The comparative balance sheets for $2024$ and $2023$ and the statement of income for $2024$ are given below for Additional information from the accounting records:

a$.$ Investment revenue includes National Intercable Company's $$6$ million share of the net income of Central Fiber

Optics Corporation, an equity method investee.

b$.$ A long$-$term investment in bonds, originally purchased for $$30$ million, was sold for $$36$ million.

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

million.

d$.$ Equipment that originally cost $$116$ million, and which was one$-$fourth depreciated, was destroyed by fire. Some

undamaged sections were sold for $$3$ million.

e$.$ The right to use a building was acquired on January $1,2024,$ with an eight$-$year finance agreement; present

value of lease payments, $$80$ million. Annual lease payments of $$12$ million are paid on Jan. $1$ of each year

starting in $2024.$

f$.$ $$144$ million of bonds were retired at maturity.

g$.$ $$20$ million par value of common stock was sold for $$30$ million, and $$64$ million of preferred stock was sold at

par.

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

Required:

Prepare the statement of cash flows. Present cash flows from operating activities by the direct method.

Note: Enter your answers in millions $($i$.$e$.,10,000,000$ should be entered as $10).$ Amounts to be deducted should

be indicated with a minus sign. $\backslash$table$[[$NATIONAL INTERCABLE COMPANY$],[$Statement of Cash Flows$],[$For the year ended December $31,2024],[($$ in millions$)],[$Cash flows from operating activities:$],[$Cash inflows:$],[$From customers,$606\backslash$times $,],[$From investment revenue,$6$x$,],[$Cash outflows:$],[$To suppliers of goods,$(126)\backslash$times $,],[$To employees,$(69)\backslash$times $,],[$For insurance expense,$(27)\backslash$times $,],[$For interest expense,$(44)\backslash$times $,],[$For income taxes,$(20)\backslash$times $,],[$Net cash flows from operating activities,,$326],[$Cash flows from investing activities:$],[$Sale of long$-$term investment,$36>,],[$Sale of building,$3(),],[$Sale of long$-$term investment,$(80)\backslash$times $,],[$Net cash flows from investing activities,,$(41)],[$Cash flows from financing activities:$],[$Sale of common stock,$30,],[$Sale of preferred stock,$64$vv$,],[$Retirement of bonds payable,$(144),],[$Payment of dividends,$(30)$vv$,]]$

National Intercable Company. Additional information from NIC's accounting records is provided also.