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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, 2018 ($ in

Portions of the financial statements for Myriad Products are provided below.

MYRIAD PRODUCTS COMPANY Income Statement For the Year Ended December 31, 2018 ($ in millions)
Sales $ 780
Cost of goods sold 273
Gross margin 507
Salaries expense $ 120
Depreciation expense 86
Patent amortization expense 5
Interest expense 26
Loss on sale of land 4 241
Income before taxes 266
Income tax expense 133
Net Income $ 133

MYRIAD PRODUCTS COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2018 and 2017 ($ in millions)
Year
2018 2017 Change
Cash $ 120 $ 118 $ 2
Accounts receivable 249 259 (10 )
Inventory 449 468 (19 )
Accounts payable 185 170 15
Salaries payable 92 104 (12 )
Interest payable 52 38 14
Income taxes payable 42 28 14

Required: Prepare the cash flows from operating activities section of the statement of cash flows for Myriad Products Company using the direct method. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)

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