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Portions of the financial statements for Myriad Products are provided below. $ 98e 343 637 MYRIAD PRODUCTS COMPANY Income Statement For the Year Ended December
Portions of the financial statements for Myriad Products are provided below. $ 98e 343 637 MYRIAD PRODUCTS COMPANY Income Statement For the Year Ended December 31, 2018 ($ in millions) Sales Cost of goods sold Gross margin Salaries expense $179 Depreciation expense Patent amortization expense Interest expense Loss on sale of land Income before taxes Income tax expense Net Income 106 MYRIAD PRODUCTS COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2018 and 2017 (s in millions) Year 2018 2017 Change Cash $ 158 $18 $ 12 Accounts receivable 269 289 (20) Inventory 488 (19) Accounts payable 223 219 13 Salaries payable 111 Interest payable Income taxes payable 60 12 469 124 (13) 58 Required: Prepare the cash flows from operating activities section of the statement of cash flows for Myriad Products Company using the indirect method (Enter your answers in millions (.e., 10,000,000 should be entered as 10.). Amounts to be deducted should be Indicated with a minus sign.) is in millions) Cash Flows from Operating Activities: Adjustments for noncash effects: Changes in operating assets and liabilities
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