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

MYRIAD PRODUCTS COMPANY

Income Statement

For the Year Ended December 31, 2016 ($ in millions)

Sales 720

COGs (252)

468

Gross Margin

Salaries expense $105

Depreciation exp 80

Patent Amort exp 5

Interest exp 20

Loss on sale of land (214)

Income before taxes 254

Income tax expense (127)

Net Income $127

MYRIAD PRODUCTS COMPANY

Selected Accounts from Comparative Balance Sheets

December 31, 2016 and 2015 ($ in millions)

Year

2016 2015 Change

Cash $ 120 112 8

Accounts Receivable 232 250 (18)

Inventory 446 462 (16)

Accounts payable 170 158 12

Salaries payable 86 98 (12)

Interest payable 43 32 11

Income taxes payable 33 22 11

Required:

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

Cash Flows from Operating Activities:

Adjustments for noncash effects:

Changes in operating assets and liabilities:

Net Cash flows from operating activities $______________