The chief accountant for Grandview Corporation provides you with the companys 2021 statement of cash flows and income statement. The accountant has asked for your help with some missing figures in the companys comparative balance sheets. These financial statements are shown next ($ in millions). GRANDVIEW CORPORATION Statement of Cash Flows For the Year Ended December 31, 2021 Cash Flows from Operating Activities: Collections from customers $ 79 Payment to suppliers (32 ) Payment of general & administrative expenses (20 ) Payment of income taxes (11 ) Net cash flows from operating activities $ 16

The chief accountant for Grandview Corporation provides you with the companys 2021 statement of cash flows and income statement. The accountant has asked for your help with some missing figures in the companys comparative balance sheets. These financial statements are shown next ($ in millions).

GRANDVIEW CORPORATION Statement of Cash Flows For the Year Ended December 31, 2021
Cash Flows from Operating Activities:
Collections from customers	$	79
Payment to suppliers		(32	)
Payment of general & administrative expenses		(20	)
Payment of income taxes		(11	)
Net cash flows from operating activities					$	16
Cash Flows from Investing Activities:
Sale of investments						67
Cash Flows from Financing Activities:
Issuance of common stock		12
Payment of dividends		(7	)
Net cash flows from financing activities						5
Net increase in cash					$	88

GRANDVIEW CORPORATION Income Statement For the Year Ended December 31, 2021
Sales revenue				$	88
Cost of goods sold					34
Gross profit					54
Operating expenses:
General and administrative expense	$	20
Depreciation expense		12
Total operating expenses					32
Operating income					22
Other income:
Gain on sale of investments					15
Income before income taxes					37
Income tax expense					8
Net income				$	29

Required: 1. Calculate the missing amounts. 2. Prepare the operating activities section of Grandviews 2021 statement of cash flows using the indirect method.