MYRIAD PRODUCTS COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2018 and 2017 ($ in millions) Year 2018 2017 Cash $102 $100 Accounts receivable 220 232 Inventory 440 450 Accounts payable 140 134 Salaries payable 86 Interest payable 25 20 Income taxes payable 15 Change $ 2 (12) (10) Required: Prepare the cash flows from operating activities section of the statement of cash flows for Myriad Products Com pany using the direct method. Refer to the data provided in E 21-23 for Myriad Products Company. Required: Prepare the cash flows from operating activities section of the statement of cash flows for Myriad Products Com pany using the indirect method. Portions of the financial statements for Clear Transmissions Company are provided on the following page. In preparation for developing its statement of cash flows for the year ended December 31, 2018, Rapid Pac, Inc. collected the following information: E 21-13. ....... Identifying cash flows from investing activities and financing activities LO21-5, LO21-6 ($ In millions) $ 65 102 22 Fair value of shares issued in a stock dividend Payment for the early extinguishment of long-term bonds (book value: $97 million) Proceeds from the sale of treasury stock (cost: $ 17 million) Gain on sale of land Proceeds from sale of land Purchase of Microsoft common stock Declaration of cash dividends Distribution of cash dividends declared in 2017 12 160 44 40 Required: 1. In Rapid Pac's statement of cash flows, what were net cash inflows (or outflows) from investing activities for 2018? 2. In Rapid Pac's statement of cash flows, what were net cash inflows (or outflows) from financing activities for 2018? ch