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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 (s in
Portions of the financial statements for Myriad Products are provided below MYRIAD PRODUCTS COMPANY Income Statement For the Year Ended December 31, 2018 (s in millions) Sales Cost of goods sold $800 280 520 Gross margin Salaries expense Depreciation expense Patent amortization expense nterest expense Loss on sale of land Income before taxes $125 28 250 270 135 135 Income tax expense Net Income MYRIAD PRODUCTS COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2018 and 2017 ( in millions) Year 2018 2017 Change Cash Accounts receivable Inventory Accounts payable Salaries payable Interest payable Income taxes payable $123 $1203 262 470 174 106 40 30 251 460 190 95 (10) 16 15 15 45 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 (i.., 10,000,000 should be entered as 10). Amounts to be deducted should be indicated with a minus sign.)
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