The comparative balance sheets for $2024$ and $2023$ and the income statement for $2024$ are given in the attached excel file for Spartan Corp. Additional information from Spartan$$s accounting records is provided as follows.

Investment revenue includes Spartan$$s $$6$ million share of the net income of Central Fiber Optics Corporation, an equity method investee..

A long$-$term investment in bonds, originally purchased for $$30$ million, was sold for $$35$ million.

Pretax accounting income exceeded taxable income, causing the deferred income tax liability to increase by $$3$ million.

A building that originally cost $$60$ million, and which was one$-$fourth depreciated, was destroyed by fire. Some undamaged sections were sold for $$3$ million.

The right to use a building was acquired with a seven$-$year lease agreement; present value of lease payments, $$80$ million. Annual lease payments of $$12$ million are paid on Jan. $1$ of each year starting in $2024.$

$$130$ million of bonds were retired at maturity.

$$20$ million par value of common stock was sold for $$30$ million, and $$50$ million of preferred stock was sold at par.

Shareholders were paid cash dividends of $$30$ million.

Required:

Prepare a spreadsheet for preparation of the statement of cash flows $($direct method$)$ of Spartan Corp. for the year ended December $31,2024.$

Prepare the statement of cash flows of Spartan Corp. for the year ended December $31,2024.$ Present cash flows from operating activities by the direct method. $($A reconciliation schedule is not required.$)$