The chief accountant for Grandview Corporation provides you with the company's 2024 statement of cash flows and income statement. The accountant has asked for your help with some missing figures in the company's comparative balance sheets. These financial statements are shown next (S in millions). GRANDVIEW CORPORATION Statement of Cash Flows For the Year Ended December 31, 2024 Cash Flows from Operating Activities: Collections from customers Payment to suppliers Payment of general and administrative expense. Payment of income taxes Niet cash flows from operating activities Cash Flows from Investing Activities:: Sale of investments Cash Flows from Financing Activities: Issuance of common stock Payment of dividends Net cash flows from financing activities Net increase in cash- GRANDVIEW CORPORATION Income Statement For the Year Ended December 31, 2024 $ 99 (43) (27) (18) 14 (5) $11 74 $ 94 Sales revenue Cost of goods sold Gross profit $116 41 75 Operating expenses: General and administrative expense $ 27 Depreciation expense 19 Total operating expenses 46 29 B Operating income Other income: Gain on sale of investments Income before income taxes Income tax expense Net income Required: 1. Calculate the missing amounts. 20 49 8 $41 2. Prepare the operating activities section of Grandview's 2024 statement of cash flows using the indirect method. Note: Amounts to Be be entered as 10). Assets: Cash GRANDVIEW CORPORATION Balance Sheets At December 31 ($ in millions) Accounts receivable Investments Inventory Property, plant and equipment Less: Accumulated depreciation Total assets Liabilities and Shareholders' Equity 2024 2023 $ 170 93 54 69 159 159 (83) $ 50 $ 39 Accounts payable Accrued liabilities (for selling and administrative expense) 18 18 Income taxes payable 31 Common stock 253 239 37 Retained earnings Total liabilities and shareholders' equity Required 1 Required 2 Prepare the operating activities section of Grandview's 2024 statement of cash flows using Note: Amounts to be deducted should be indicated with a minus sign. Enter your answers be entered as 10). GRANDVIEW CORPORATION Statement of Cash Flows: For the Year Ended December 31, 2024 ($ in millions) + ces Cash flows from operating activities: Adjustments for noncash effects: Changes in operating assets and liabilities: Net cash flows from operating activities < Required 1 Required 2 >