Comparative balance sheets for 2021 and 2020, a statement of income for 2021, and additional information from the accounting records of Red, Inc., are provided below.

RED, INC. Comparative Balance Sheets December 31, 2021 and 2020 ($ in millions)
	2021				2020
Assets
Cash	$	37			$	136
Accounts receivable		220				135
Prepaid insurance		12				5
Inventory		291				178
Buildings and equipment		386				353
Less: Accumulated depreciation		(122	)			(243	)
	$	824			$	564
Liabilities
Accounts payable	$	90			$	106
Accrued liabilities		11				13
Notes payable		53				0
Bonds payable		210				0
Shareholders Equity
Common stock		403				403
Retained earnings		57				42
	$	824			$	564

RED, INC. Statement of Income For Year Ended December 31, 2021
($ in millions)
Revenues
Sales revenue				$	2,020
Expenses
Cost of goods sold	$	1,412
Depreciation expense		69
Operating expenses		471			1,952
Net income				$	68

Additional information from the accounting records:

1. During 2021, $233 million of equipment was purchased to replace $200 million of equipment (95% depreciated) sold at book value.
2. In order to maintain the usual policy of paying cash dividends of $53 million, it was necessary for Red to borrow $53 million from its bank.

Required: Prepare the statement of cash flows of Red, Inc., using the direct method to report operating activities. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Amounts to be deducted should be indicated with a minus sign.)

RED, INC. Statement of Cash Flows For year ended December 31, 2021 ($ in millions) Cash flows from operating activities: Cash inflows: From customers Cash outflows: For operating expenses Net cash flows from operating activities Cash flows from investing activities: Sale of equipment Purchase of equipment Net cash flows from investing activities Cash flows from financing activities: Issuance of bonds payable Issuance of note payable Payment of dividends Net cash flows from financing activities Net increase (decrease) in cash Cash balance, January 1 Cash balance, December 31