Portions of the financial statements for Myriad Products are provided below. $ 660 250 410 MYRIAD PRODUCTS COMPANY Income Statement For the Year Ended December 31, 2021 ($ in millions) Sales Cost of goods sold Gross margin Salaries expense $110 Depreciation expense Amortization expense 5 Interest expense 20 Loss on sale of land Income before taxes Income tax expense Net Income 90 2 3 228 182 91 $ 91 MYRIAD PRODUCTS COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2021 and 2020 ($ in millions) Year 2021 2020 Change Cash $102 $100 $ 2 Accounts receivable 220 232 (12) Inventory 440 450 (10) Accounts payable 140 134 6 Salaries payable 80 86 (6) Interest payable 25 20 5 Income tax payable 15 10 5 Required: Prepare the cash flows from the operating activities section of the statement of cash flows for Myriad Products 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.) Required: Prepare the cash flows from the operating activities section of the statement of cash flows for Myriad Products 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.) ($ in millions) $ 91 Cash Flows from Operating Activities: Net income Adjustments for noncash effects: Depreciation expense Amortization expense Loss on sale of land Changes in operating assets and liabilities: Decrease in accounts receivable Decrease in inventory Increase in accounts payable Decrease in salaries payable Increase in interest payable Increase in income tax payable Net cash flows from operating activities $ 91