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Income Statement For the Year Ended December 31, 2021 ($ in millions) Sales $1,000 Cost of goods sold 350 Gross margin 650 Salaries expense $175
Income Statement For the Year Ended December 31, 2021 ($ in millions) Sales $1,000 Cost of goods sold 350 Gross margin 650 Salaries expense $175 Depreciation expense 108 Amortization expense 5 Interest expense 48 Loss on sale of land 4. 340 Income before taxes 310 Income tax expense 155 Net Income $ 155 $ MYRIAD PRODUCTS COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2021 and 2020 ($ in millions) Year 2021 2020 Change Cash $153 $140 $ 13 Accounts receivable 271 292 (21) Inventory 470 490 (20) Accounts payable 228 214 14 Salaries payable 112 126 (14) Interest payable 72 60 12 Income tax pavable 63 50 13 Required: Prepare the cash flows from operating activities section of the statement of cash flows for Myriad Products Company using the direct method. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions (l.e.. 10,000,000 should be entered as 10).) (Sin millions) Cash Flows from Operating Activities: Not cash flown from operating activities $
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