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Hi I need help answer the following question thank you Portions of the financial statements for Myriad Products are provided below. $ 960 336 624
Hi I need help answer the following question thank you
Portions of the financial statements for Myriad Products are provided below. $ 960 336 624 MYRIAD PRODUCTS COMPANY Tecoee Statement For the Year Ended December 31, 2021 (5 in dllions) Sales Cost of goods sold Gross sargin Salaries expense $165 Depreciation expense Amortization expense 5 Interest expense 44 Loss on sale of land 4 Income before taxes Income tax expense Net Income 164 151 5151 MYRIAD PRODUCTS COMPANY Selected Accounts from comparative Balance Sheets December 31, 2021 and 2020 (5 in millions) Year 2021 2020 Change Cash $147 $136 $11 Accounts receivable 267 286 (19) Inventory 458 486 (10) Accounts payable 206 12 Salaries payable 110 122 (12) Interest payable 66 56 10 Income tax payable 57 46 31 218 Required: Prepare the cash flows from the operating activities section of the statement of cash flows for Myriad Products Company using the indirect method (Enter your answers in millons (le., 10,000,000 should be entered os 10). Amounts to be deducted should be Indicated with a minus sign.) Answer is not complete. (5 in millions) Cash Flows from Operating Activities Net income 070 X Adjustments for noncash effects 9703 0703 9793 070 Changes in operating assets and abilities: points MYRIAD PRODUCTS COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2021 and 2020 ($ in millions) Year 2021 2020 Change Cash $147 $136 $ 11 Accounts receivable 267 286 (19) Inventory 468 486 (18) Accounts payable 218 286 12 Salaries payable 110 122 Interest payable (12) 66 56 10 Income tax payable 57 46 11 Required: Prepare the cash flows from the operating activities section of the statement of cash flows for Myri indirect method. (Enter your answers in millions (l.e., 10,000,000 should be entered as 10). Amo Indicated with a minus sign.) Answer is not complete. (s in millions) Cash Flows from Operating Activities: Net income Adjustments for noncash effects: 979 979 979 979 979 X Changes in operating assets and liabilities: Net cash flows from operating activities Is 4,895 Step by Step Solution
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