The comparative balance sheets for 2021 and 2020 and the statement of income for 2021 are given below for National Intercable Company. Additional information from NICs accounting records is provided also.

NATIONAL INTERCABLE COMPANY Comparative Balance Sheets December 31, 2021 and 2020 ($ in millions)
	2021				2020
Assets
Cash	$	106			$	95
Accounts receivable		280				275
Less: Allowance for uncollectible accounts		(8	)			(6	)
Prepaid insurance		4				10
Inventory		262				255
Long-term investment		50				75
Land		180				180
Buildings and equipment		322				280
Less: Accumulated depreciation		(118	)			(85	)
Trademark		29				30
	$	1,107			$	1,109
Liabilities
Accounts payable	$	38			$	54
Salaries payable		4				5
Deferred tax liability		20				17
Lease liability		79				0
Bonds payable		115				285
Less: Discount on bonds		(25	)			(28	)
Shareholders' Equity
Common stock		290				270
Paid-in capitalexcess of par		110				90
Preferred stock		50				0
Retained earnings		426				416
	$	1,107			$	1,109

NATIONAL INTERCABLE COMPANY Income Statement For Year Ended December 31, 2021 ($ in millions)
Revenues
Sales revenue	$	420
Investment revenue		16
Gain on sale of investments		4		$	440
Expenses
Cost of goods sold		170
Salaries expense		62
Depreciation expense		45
Amortization expense		1
Bad debt expense		7
Insurance expense		24
Interest expense		40
Loss on sale of building		32			381
Income before tax					59
Income tax expense					27
Net income				$	32

Additional information from the accounting records:

1. Investment revenue includes National Intercable Company's $9 million share of the net income of Central Fiber Optics Corporation, an equity method investee.
2. A long-term investment in bonds, originally purchased for $34 million, was sold for $38 million.
3. Pretax accounting income exceeded taxable income, causing the deferred income tax liability to increase by $3 million.
4. A building that originally cost $48 million, and which was one-fourth depreciated, was destroyed by fire. Some undamaged sections were sold for $4 million.
5. The right to use a building was acquired with a seven-year lease agreement; present value of lease payments, $90 million. Annual lease payments of $11 million are paid at Jan. 1 of each year starting in 2021.
6. $170 million of bonds were retired at maturity.
7. $20 million par value of common stock was sold for $40 million, and $50 million of preferred stock was sold at par.
8. Shareholders were paid cash dividends of $22 million.

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

Answer is not complete.

NATIONAL INTERCABLE COMPANY
Statement of Cash Flows
For the year ended December 31, 2021
($ in millions)
Cash flows from operating activities:
Cash inflows:
not attempted	not attempted
not attempted	not attempted
not attempted	not attempted
Cash outflows:
not attempted	not attempted
not attempted	not attempted
not attempted	not attempted
not attempted	not attempted
not attempted	not attempted
not attempted	not attempted
not attempted	not attempted
Net cash flows from operating activities		$0
Cash flows from investing activities:
not attempted	not attempted
not attempted	not attempted
not attempted	not attempted
Net cash flows from investing activities		0
Cash flows from financing activities:
not attempted	not attempted
not attempted	not attempted
not attempted	not attempted
not attempted	not attempted
not attempted	not attempted
not attempted	not attempted
not attempted	not attempted
Net cash flows from financing activities		0
Net increase (decrease) in cash		0
Cash balance, January 1		not attempted
Cash balance, December 31		$0
Noncash investing and financing activities:
not attempted		not attempted