Comparative balance sheets for 2024 and 2023, a statement of income for 2024 , and additional information from the accounting records of Red, Incorporated, are provided below: Additional information from the accounting records: a. During 2024,$249 million of equipment was purchased to replace $180 million of equipment ( 90% depreciated) sold at book value. b. In order to maintain the usual policy of paying cash dividends of $69 million, it was necessary for Red to borrow $69 million from its bank. eqquired: repare the statement of cash flows of Red, Incorporated, for the year ended December 31, 2024, using the direct method to report perating activities. lote: Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Cash outflows should be indicated with a minus ign. Statement of Cash Flows For year ended December 31, 2024 (\$ in millions) Cash flows from operating activities: Cash inflows: From customers Cash outflows: For operating expenses To suppliers of goods Net cash flows from operating activities $ Cash flows from investing activities: Sale of equipment 18 Purchase of equipment Net cash flows from investing activities 18 Cash flows from financing activities: Issuance of bonds payable Payment of dividends (69) Issuance of note payable