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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, 2021 ($ in

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

MYRIAD PRODUCTS COMPANY Income Statement For the Year Ended December 31, 2021 ($ in millions)
Sales $ 660
Cost of goods sold 250
Gross margin 410
Salaries expense $ 110
Depreciation expense 90
Amortization expense 5
Interest expense 20
Loss on sale of land 3 228
Income before taxes 182
Income tax expense 91
Net Income $ 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
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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).) Answer is not complete. ($ in millions) Cash Flows from Operating Activities: Cash paid to suppliers $ 234 X Cash paid to employees 116 X Cash paid for interest 15 X Cash paid for income taxes 86 X Ooool Net cash flows from operating activities $ 451

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