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Problem 21-11 (Algo) Prepare a statement of cash flows; dlrect method [LO21-3, 21-8] The comporative bolance sheets for 2024 and 2023 and the income statement for 2024 are given below for Arduous Company. Additional information from Arduous's accounting records is provided also. Additional information from the accounting records: 6. Investment revenue includes Arduous Compony's $25 million share of the net income of Demur Compeny, an equity method investee. b. Treasury bills were sold during 2024 at o gain of $2 million. Arduous Compony classifies its investments in Treosury bills as cosh equivelents. c. Equipment originally costing $108 million that wos one-helf depreciated wos rendered unusable by a flood. Most major components of the equipment were unharmed and were sold for $20 million. d. Temporary differences between pretsx sccounting income snd toxoble income caused the deferred tax liability to incresse by $22 million, e. The preferred stock of Tory Corporation wos purchased for $44 million as a long-term investment. f. Land costing $65 million wos ocquired by issuing $32 million cash ond o 10%, four-year, $33 million note poysble to the seller. g. The right to use o building wos acquired with o 15 -year lease agreement; present volue of lease poyments, S101 million. Annusi lesse poyments of $6 million are poid at the beginning of each year starting January 1,2024. h. $79 million of bonds were retired at maturity. i. In Februsry, Arduous issued o stock dividend (11.6 million shares). The market price of the $5 per value common stock wos $7.50 per shore at that time. j. In April, 1 million sheres of common stock were repurchosed ss tressury stock at a cost of $28.00 million. Requlred: Prepare the statement of cash flows of Arduous Company for the year ended December 31, 2024. Present cosh flows from operating octivities by the direct method. Note: Do not round your Intermedlate calculations. Enter your answers in millions (I.e., 10,000,000 should be entered as 10). Amounts to be deducted should be Indicated with a minus sion