Problem III: Dublin Enterprises, Inc. (DEI), owns a chain of retadectronic states located in shopping malls. The following are the company 2021 income statement partie balance sheet ($ in millions): 53.100 1,400 700 Income Statement For the Year Ended December 31, 2021 Sales revenue Cost of goods sold Gross profit Operating expenses: Selling and administrative expense $ 355 Depreciation expense Total operating expenses Income before income taxes Income tax expense Net income 85 440 200 65 5 156 12/31/2021 12/31/2020 $ 300 227 160 960 (405) $ 1.242 $ 220 240 120 800 (320) $ 1,060 Comparative Balance Sheets Assets: Cash Accounts receivable Inventory Property, plant, and equipment Less: Accumulated depreciation Total assets Liabilities and shareholders' equity: Accounts payable Accrued liabilities (for selling and admin. expense) Income taxes payable Long-term debt Common stock Retained earnings Total liabilities and shareholders' equity $ 145 147 82 $ 130 170 50 100 400 210 $ 1,060 = 463 405 $1,242 Required: Prepare the cash flows from operating activities section of DEI's 2021 statement of cash flows using the indirect method. Solution