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 $ 38 $ 110 Accounts receivable 215 146 Prepaid insurance 13 7 Inventory 280 200 Buildings and equipment 428 364 Less: Accumulated depreciation (133) (254) $ 841 $ 573 Liabilities Accounts payable $ 101 $ 128 Accrued liabilities 12 17 Notes payable 64 0 Bonds payable 150 0 Shareholders' Equity Common stock 414 414 Retained earnings 100 14 $ 841 $ 573 RED, INC. Statement of Income For Year Ended December 31, 2021 ($ in millions) Revenues Sales revenue $2,140 Expenses Cost of goods sold $1,447 Depreciation expense 23 Operating expenses 520 1,990 Net income $ 150 Additional information from the accounting records: a. During 2021, $244 million of equipment was purchased to replace $180 million of equipment (80% depreciated) sold at book value. b. In order to maintain the usual policy of paying cash dividends of $64 million, it was necessary for Red to borrow $64 million from its bank Required: Prepare the statement of cash flows for Red, Inc., using the indirect method to report operating activities. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) RED, INC. Statement of Cash Flows For year ended December 31, 2021 ($ in millions) Cash flows from operating activities: Adjustments for noncash effects: Changes in operating assets and liabilities: $ $ 0 Net cash flows from operating activities Cash flows from investing activities: Net cash flows from investing activities 0 Cash flows from financing activities: 0 0 Net cash flows from financing activities Net increase (decrease) in cash Cash balance, January 1 Cash balance, December 31 $ 0