The comparative balance sheets for 2018 and 2017 and the income statement for 2018 are given below for Arduous Company. Additional information from Arduouss accounting records is provided also.

ARDUOUS COMPANY Comparative Balance Sheets December 31, 2018 and 2017 ($ in millions)
	2018				2017
Assets
Cash	$	120			$	87
Accounts receivable		196				206
Investment revenue receivable		14				10
Inventory		212				206
Prepaid insurance		12				19
Long-term investment		176				131
Land		208				156
Buildings and equipment		418				412
Less: Accumulated depreciation		(103	)			(132	)
Patent		36				40
	$	1,289			$	1,135
Liabilities
Accounts payable	$	56			$	77
Salaries payable		14				22
Bond interest payable		16				10
Income tax payable		18				21
Deferred income tax liability		23				14
Notes payable		26				0
Lease liability		80				0
Bonds payable		221				287
Less: Discount on bonds		(28	)			(30	)
Shareholders Equity
Common stock		448				416
Paid-in capitalexcess of par		107				91
Preferred stock		81				0
Retained earnings		242				227
Less: Treasury stock		(15	)			0
	$	1,289			$	1,135

ARDUOUS COMPANY Income Statement For Year Ended December 31, 2018 ($ in millions)
Revenues and gain:
Sales revenue	$	452
Investment revenue		20
Gain on sale of treasury bills		4		$	476
Expenses and loss:
Cost of goods sold		186
Salaries expense		79
Depreciation expense		12
Patent amortization expense		4
Insurance expense		13
Bond interest expense		34
Loss on machine damage		27
Income tax expense		42			397
Net income				$	79

Additional information from the accounting records:

1. Investment revenue includes Arduous Companys $14 million share of the net income of Demur Company, an equity method investee.
2. Treasury bills were sold during 2018 at a gain of $4 million. Arduous Company classifies its investments in Treasury bills as cash equivalents.
3. A machine originally costing $82 million that was one-half depreciated was rendered unusable by a flood. Most major components of the machine were unharmed and were sold for $14 million.
4. Temporary differences between pretax accounting income and taxable income caused the deferred income tax liability to increase by $9 million.
5. The preferred stock of Tory Corporation was purchased for $31 million as a long-term investment.
6. Land costing $52 million was acquired by issuing $26 million cash and a 12%, four-year, $26 million note payable to the seller.
7. The right to use a building was acquired with a 15-year lease agreement; present value of lease payments, $88 million. Annual lease payments of $8 million are paid at the beginning of each year starting January 1, 2018.
8. $66 million of bonds were retired at maturity.
9. In February, Arduous issued a stock dividend (6.4 million shares). The market price of the $5 par value common stock was $7.50 per share at that time. Also the company paid a cash dividend.
10. In April, 1 million shares of common stock were repurchased as treasury stock at a cost of $15.00 million

Required: Prepare the statement of cash flows of Arduous Company for the year ended December 31, 2018. Present cash flows from operating activities by the direct method. (Do not round your intermediate calculations. 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.)

ARDUOUS COMPANY Statement of Cash Flows For year ended December 31, 2018 ($ in millions) Cash flows from operating activities: Cash inflows From customers From investment revenue Cash outflows: To suppliers of goods To employees For insurance For bond interest For income taxes Net cash flows from operating activities Cash flows from investing activities: Sale of machine components Purchase of long-term investment Purchase of land - cash portion Net cash flows from investing activities Cash flows from financing activities: Sale of preferred stock Retirement of bonds payable Payment on lease liability Purchase of treasury stock Payment of cash dividends Net cash flows from financing activities Net increase in cash Cash balance, January 1 Cash balance, December 31 Noncash investing and financing activities: Acquired land with cash and