Exercise 21-24 (Algo) Cash flows from operating activities (indirect method) (LO21-4) Portions of the financial statements for Myriad Products are provided below. MYRIAD PRODUCTS COMPANY Income Statement For the Year Ended December 31, 2021 ($ in millions) Sales $720 Cost of goods sold 252 Gross margin 468 Salaries expense $105 Depreciation expense 80 Amortization expense 5 Interest expense 20 Loss on sale of land 4 214 Income before taxes 254 Income tax expense 127 Net Income $127 MYRIAD PRODUCTS COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2021 and 2020 ($ in millions) Year 2021 2020 Change Cash $120 $112 $ 8 Accounts 232 250 (18) receivable Inventory 446 462 (16) Accounts payable 170 158 12 Salaries payable 86 98 (12) Interest payable 43 32 11 Income tax 33 22 11 payable Required: Prepare the ash flows from the operating activities section of of cash flows for Products Company using the indirect method. (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.) ($ in millions) Cash Flows from Operating Activities: Adjustments for noncash effects: Changes in operating assets and liabilities: Net cash flows from operating activities