please explain if possible

The comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are given below for National Intercable Company. Additional information from NIC's accounting records is provided also. NATIONAL INTERCABLE COMPANY Comparative Balance Sheets December 31, 2018 and 2017 (s in millions) 2018 2017 $ 174 434 (8) Assets Cash Accounts receivable Less: Allowance for uncollectible accounts Prepaid insurance Inventory Long-term investment Land Buildings and equipment Less: Accumulated depreciation Trademark 145 425 (6) 15 405 125 412 77 250 28e 392 (148) 380 (135) 30 27 $1,647 $1,664 Liabilities Accounts payable Salaries payable Deferred income tax liability Lease liability Bonds payable Less: Discount on bonds Shareholders' Equity Common stock Pald-in capital-excess of par Preferred stock Retained earnings signment #100 Savod Help Save & Exits $ 610 14 4 $ 628 389 NATIONAL INTERCABLE COMPANY Income Statement For Year Ended December 31, 2018 ($ in millions) Revenues Sales revenue Investment revenue Gain on sale of investments Expenses Cost of goods sold Salaries expense Depreciation expense Trademark amortization expense Bad debt expense Insurance expense Bond interest expense Loss on building fire Income before tax Income tax expense Net income 78 35 Additional information from the accounting records a. Investment revenue includes National Intercable Company's $6 million share of the net income of Central Fiber Optics Corporation an equity method investee. b. A long-term investment in bonds, originally purchased for $54 million, was sold for $58 million c Pretax accounting income exceeded taxable income causing the deferred income tax liability to increase by $5 million d. A building that originally cost $88 million, and which was one-fourth depreciated, was destroyed by fire. Some undamaged parts were sold for $6 million. e. The right to use a building was acquired with a seven-year lease agreement present value of lease payments, $100 million. Annual lease payments of $15 million are paid at Jan. 1 of each year starting in 2018 ssignment #10 A Help Save & Exit e. The nght to use a building was acquired with a seven-year lease agreement present value of lease payments, $100 million Annual lease payments of $15 million are paid at Jan. 1 of each year starting in 2018 f. $180 million of bonds were retired at maturity. 9. $50 million par value of common stock was sold for $60 million, and $80 million of preferred stock was sold at par h. Shareholders were paid cash dividends of $60 million Required: 2. Prepare the statement of cash flows. Present cash flows from operating activities by the direct method. (Enter your answers in millions (l.e., 10,000,000 should be entered as 10.). Amounts to be deducted should be indicated with a minus sign.) NATIONAL INTERCABLE COMPANY Statement of Cash Flows For year ended December 31, 2018 (S in millions) Cash flows from operating activities: Cash inflows. From customers $ From investment revenue 610 Cash outflows To suppliers of goods To employees For insurance (300) (78) NATIONAL INTERCABLE COMPANY Statement of Cash Flowes For year ended December 31, 2018 (5 in millions) Cash flows from operating activities: Cash inflows: From customers From investment revenue 610 Cash outflows: To suppliers of goods To employees For insurance (300) (79) (8) (21) (100) Net cash flows from operating activities Cash flows from investing activities: Acquired equipment Sale of long-term investment From investment revenue Net cash flows from investing activities Cash flows from financing actvities Payment on lease iability Petirement of bonds payable Sale of common stock Sanfraferen en 38 140 e to search ter 20 Assignment $100 From customers From investment revenue Cash outflows To suppliers of goods To employees (300) (78) For insurance (100) (38) Net cash flows from operating activitie Cash flows from investing activities. Acquired equipment Sale of long-term investment From investment revenue Net cash flows from investing activities Cash flows from financing activities Payment on lease liability Retirement of bonds payable Sale of common stock Sale of preferred stock Payment of cash dividends (174) (80) mm Net cash flows from financing activit Cash balance. De ORO d financing activities