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Portions of the financial statements for Myriad Products are provided below: MYRIAD PRODUCTS COMPANY Income Statement For the Year Ended December 31, 2024 Sales ($
Portions of the financial statements for Myriad Products are provided below: MYRIAD PRODUCTS COMPANY Income Statement For the Year Ended December 31, 2024 Sales ($ in millions) Cost of goods sold Gross margin Depreciation expense Salaries expense Amortization expense Interest expense Loss on sale of land. Income before taxes. Income tax expense Net Income $ 660 250 410 $ 110 90 20 3 228 182 91 $ 91 MYRIAD PRODUCTS COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2024 and 2023 ($ in millions) Year 2024 2023 Change Cash $ 102 $ 100 $ 2 Accounts receivable 220 232 (12) Inventory Accounts navable 440 450 (10) 140 134 6 Accounts payable 140 134 Salaries payable 80 86 (6) Interest payable 25 20 Income tax payable 15 10 6555 Required: Prepare the cash flows from the operating activities section of the statement of cash flows for Myriad Products Company using the indirect method. Note: Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Cash outflows should be indicated with a minus sign. ces ($ in millions) Cash Flows from Operating Activities: Adjustments for noncash effects: Changes in operating assets and liabilities: Net cash flows from operating activities
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