indicated with a minus sign.

$\backslash$table$[[$ARDUOUS COMPANY$],[$Statement of Cash Flows$],[$For year ended December $31,2024],[($ $ in millions$)],[$Cash flows from operating activities:$],[\backslash$table$[[$Cash inflows:$]]],[$From customers$],[$From investment revenue$],[],[$Cash outflows:$],[$To suppliers of goods$],[$To employees$],[$For income taxes$],[\{$

$\backslash$table$[[$For insurance$],[$For interest$]]\}],[],[$Net cash flows from operating activities,,$$22],[$Cash flows from investing activities:$],[$Purchase of land,$(23),],[$Purchase of long$-$term investment,$(25),],[$Sale of equipment$],[$Net cash flows from investing activities,,$(48)],[$Cash flows from financing activities:$],[,,],[,,],[,,],[,,],[,(7),],[$Net cash flows from financing activities,,$(7)],[$Net increase in cash,,$],[$Cash balance, January $1,,91,91,],[$Cash balance, December $31,,$$$91],[$Noncash investing and financing activities:,,$],[,,],[,,],[,,]]$The comparative balance sheets for $2024$ and $2023$ and the income statement for $2024$ are given below for indicated with a minus sign.

$\backslash$table$[[$ARDUOUS COMPANY$],[$Statement of Cash Flows$],[$For year ended December $31,2024],[($ $ in millions$)],[$Cash flows from operating activities:$],[\backslash$table$[[$Cash inflows:$]]],[$From customers$],[$From investment revenue$],[],[$Cash outflows:$],[$To suppliers of goods$],[$To employees$],[$For income taxes$],[\{$

$\backslash$table$[[$For insurance$],[$For interest$]]\}],[],[$Net cash flows from operating activities,,$$22],[$Cash flows from investing activities:$],[$Purchase of land,$(23),],[$Purchase of long$-$term investment,$(25),],[$Sale of equipment$],[$Net cash flows from investing activities,,$(48)],[$Cash flows from financing activities:$],[,,],[,,],[,,],[,,],[,(7),],[$Net cash flows from financing activities,,$(7)],[$Net increase in cash,,$],[$Cash balance, January $1,,91,91,],[$Cash balance, December $31,,$$$91],[$Noncash investing and financing activities:,,$],[,,],[,,],[,,]]$

Arduous Company. Additional information from Arduous's accounting records is provided also.

Additional information from the accounting records:

a$.$ Investment revenue includes Arduous Company's $$6$ million share of the net income of Demur

Company, an equity method investee.

b$.$ Treasury bills were sold during $2024$ at a gain of $$2$ million. Arduous Company classifies its

investments in Treasury bills as cash equivalents.

c$.$ Equipment originally costing $$70$ million that was one$-$half depreciated was rendered unusable by a

flood. Most major components of the equipment were unharmed and were sold for $$10$ million.

d$.$ Temporary differences between pretax accounting income and taxable income caused the deferred tax

liability to increase by $$3$ million.

e$.$ The preferred stock of Tory Corporation was purchased for $$25$ million as a long$-$term investment.

f$.$ Land costing $$46$ million was acquired by issuing $$23$ million cash and a $15\%,$ four$-$year, $$23$ million

note payable to the seller.

g$.$ The right to use a building was acquired with a $15-$year lease agreement; present value of lease

payments, $$124$ million. Annual lease payments of $$7$ million are paid at the beginning of each year

starting January $1,2024.$

h$.$ $$60$ million of bonds were retired at maturity.

i$.$ In February, Arduous issued a stock dividend $(4$ million shares$).$ The market price of the $$5$ par value

common stock was $$8$ per share at that time.

j$.$ In April, $1$ million shares of common stock were repurchased as treasury stock at a cost of $$9$ million.