Portions of the financial statements for Hawkeye Company are provided below.

HAWKEYE COMPANY
Income Statement
For the Year Ended December 31, 2021
($ in millions)
Sales				$	880
Cost of goods sold					340
Gross margin					540
Operating expenses:
Salaries	$	230
Depreciation		188
Loss on sale of land		12
Total operating expenses					430
Operating income					110
Other income (expense):
Gain on sale of cash equivalents					4
Interest expense					(38	)
Income before tax					76
Income tax expense					38
Net income				$	38

HAWKEYE COMPANY
Selected Accounts from Comparative Balance Sheets
December 31, 2021 and 2020 ($ in millions)
	Year
	2021			2020			Change
Cash	$	236		$	212		$	24
Accounts receivable		393			417			(24	)
Inventory		884			862			22
Accounts payable		222			258			(36	)
Salaries payable		182			192			(10	)
Interest payable		59			52			7
Income tax payable		92			108			(16	)

Required: 1. Prepare the cash flows from operating activities section of the statement of cash flows for Hawkeye Company using the direct method. (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 sign.)

Required: 2. Prepare the cash flows from operating activities section of the statement of cash flows for Hawkeye Company using the indirect method. (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 sign.)

X Answer is not complete. Cash Flows from Operating Activities: Cash received from customers Cash paid to suppliers Cash paid to employees Cash paid for interest Cash paid for income taxes Gain on sale of cash equivalents Net cash flows from operating activities $ 0 > Answer is not complete. Cash Flows from Operating Activities: Net income Adjustments for noncash effects: Depreciation expense Loss on sale of land Changes in operating assets and liabilities: Decrease in accounts receivable Increase in inventory Decrease in accounts payable Decrease in salaries payable Decrease in income tax payable Increase in interest payable Net cash flows from operating activities $ 0