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	$	71
Payment to suppliers		(30	)
Payment of general & administrative expense		(18	)
Payment of income taxes		(9	)
Net cash flows from operating activities					$	14
Cash Flows from Investing Activities:
Sale of investments						65
Cash Flows from Financing Activities:
Issuance of common stock		10
Payment of dividends		(3	)
Net cash flows from financing activities						7
Net increase in cash					$	86

GRANDVIEW CORPORATION Income Statement For the Year Ended December 31, 2021
Sales revenue				$	80
Cost of goods sold					32
Gross profit					48
Operating expenses:
General and administrative expense	$	18
Depreciation expense		10
Total operating expenses					28
Operating income					20
Other income:
Gain on sale of investments					15
Income before income taxes					35
Income tax expense					7
Net income				$	28

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

Calculate the missing amounts. (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).)

GRANDVIEW CORPORATION
Balance Sheets
At December 31
	2021	2020
Assets:
Cash	$145
Accounts receivable		84
Investments		50
Inventory	60
Property, plant & equipment	150	150
Less: Accumulated depreciation	(65)
Total assets
Liabilities and Shareholders Equity:
Accounts payable	$40	$30
Accrued liabilities (for selling & admin. expense)	9	9
Income taxes payable	22
Common stock	240	230
Retained earnings		47
Total liabilities and shareholders equity