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Required: Prepare the statement of cash flows of Red, Incorporated, for the year ended December 31, 2024, using the direct method to report operating activities.
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Prepare the statement of cash flows of Red, Incorporated, for the year ended December 31, 2024, using the direct method to report operating activities.
Note: Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Cash outflows should be indicated with a minus sign.
Comparative balance sheets for 2024 and 2023 , a statement of Income for 2024 , and addltional Information from the accounting records of Red, Incorporated, are provided below: Additional information from the accounting records: a. During 2024,$212 million of equipment was purchased to replace $180 million of equipment (90\% depreclated) sold at book value. b. In order to maintaln the usual policy of payIng cash dividends of $52 million, It was necessary for Red to borrow $52 million from Its bank. Requlred: Prepare the statement of cash flows of Red, Incorporated, for the year ended December 31,2024, using the direct method to report operating actlvitles. Note: Enter your answers In millions (l.e., 10,000,000 should be entered as 10). Cash outflows should be Indlcated with a minus slgn. \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ RED, INCORPORATED } \\ \multicolumn{2}{|c|}{ Statement of Cash Flows } \\ \hline Cash flows from operating activities: & & \\ \hline Cash inflows: & & \\ \hline & & \\ \hline Cash outflows: & & \\ \hline & & \\ \hline & & \\ \hline Net cash flows from operating activities & & \\ \hline Cash flows from investing activities: & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Net cash flows from investing activities & & \\ \hline Cash flows from financing activities: & & \\ \hline & & \\ \hline & & \\ \hline Net & & \\ \hline Net increase (decrease) in cash & & \\ \hline Cash balance, December 31 & & \\ \hline \end{tabular}
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