Problem $21-18($Algo$)$ Statement of cash flows; indirect method $[$LO$21-4,21-8]$

The comparative balance sheets for $2021$ and $2020$ and the income statement for $2021$ are given below for Arduous Company.

Additional information from Arduous's accounting records is provided also. Additional information from the accounting records:

a$.$ Investment revenue includes Arduous Company's $$10$ million share of the net income of Demur Company, an equity method

investee.

b$.$ Treasury bills were sold during $2021$ at a gain of $$4$ million. Arduous Company classifies its investments in Treasury bills as cash

equivalents.

c$.$ Equipment originally costing $$74$ million that was one$-$half depreciated was rendered unusable by a flood. Most major components

of the equipment were unharmed and were sold for $$15$ million.

d$.$ Temporary differences between pretax accounting income and taxable income caused the deferred tax liability to increase by $$5$

million.

e$.$ The preferred stock of Tory Corporation was purchased for $$27$ million as a long$-$term investment.

f$.$ Land costing $$48$ million was acquired by issuing $$24$ million cash and a $12\%,$ four$-$year, $$24$ million note payable to the seller.

g$.$ The right to use a building was acquired with a $15-$year lease agreement; present value of lease payments, $$91$ million. Annual lease

payments of $$7$ million are paid at the beginning of each year starting January $1,2021.$

h$.$ $$62$ million of bonds were retired at maturity.

i$.$ In February, Arduous issued a stock dividend $(4\mathrm{.}8$ million shares$).$ The market price of the $$5$ par value common stock was $$7\mathrm{.}50$ per

share at that time.

j$.$ In April, $1$ million shares of common stock were repurchased as treasury stock at a cost of $$11$ million. Required:

Prepare the statement of cash flows for Arduous Company using the indirect 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 $10).)\backslash$table$[[$Cash flows from investing activities:,$],[,],[,],[,],[,],[$Net cash flows from investing activities,$0],[$Cash flows from financing activities:,$],[,],[,],[,],[,],[,],[,],[$Net cash flows from financing activities,$0],[$Net increase in cash,$],[$Cash balance, January $1,],[$Cash balance, December $31,$$$],[$Noncash investing and financing activities:,$],[,],[,],[,]]$