The income statement and a schedule reconciling cash flows from operating activities to net Income are provided below for Macrosoft Corporation

MACROSOFT CORPORATION Income Statement For the Year Ended December 31, 2021 ($ in millions) Revenues and gains: Sales $ 328.00 Gain on sale of cash equivalents 2.90 Gain on sale of investments 24.90 $ 355.80 Expenses and loss: Cost of goods sold $ 129.00 Salaries 40.90 Interest expense 12.90 Insurance 20.90 Depreciation 10.90 Patent amortization 4.90 Loss on sale of land 6.90 226.40 Income before tax 129.40 Income tax expense 64.70 Net income $ 64.70 Reconciliation of Net Income to Net Cash Flows from Operating Activities ($ in millions) Net income $ 64.70 Adjustments for noncash effects: Depreciation expense Patent amortization expense 10.90 4.90 Loss on sale of land 6.90 Gain on sale of investment (24.90) 6.90 Decrease in accounts receivable Increase in inventory Increase in accounts payable (12.90) 18.90 Decrease in bond discount 1.90 Increase in salaries payable Decrease in prepaid insurance Increase in income tax payable 6.90 4.90 10.90 Net cash flows from operating activities $ 100.00