The comparative balance sheets for 2021 and 2020 and the income statement for 2021 are given below for Arduous Company. Additional information from Arduous's accounting records is provided also. ARDUOUS COMPANY Comparative Balance Sheets December 31, 2021 and 2020 ($ in millions) Assets Cash Accounts receivable Investment revenue receivable Inventory Prepaid insurance Long-term investment Land Buildings and equipment Less: Accumulated depreciation Patent Liabilities Accounts payable 2021 2020 144 $ 101 210 234 27 24 228 220 25 33 217 145 236 170 439 440 (118) 52 (160) 55 $ 1,460 $1,262 $ 70 $ 105 Salaries payable 27 38 Interest payable (bonds) 29 24 Income tax payable 32 40 Deferred tax liability 51 28 Notes payable 33 Lease liability 102 Bonds payable 235 315 Less: Discount on bonds (42) (50) Shareholders' Equity Common stock 490 430 Paid-in capital-excess of par 135 105 Preferred stock 95 0 Retained earnings 232 227 Less: Treasury stock (29) 0 1,460 $1,262 ARDUOUS COMPANY Income Statement For Year Ended December 31, 2021 Revenues and gain: Sales revenue Investment revenue ($ in millions) Gain on sale of treasury bills Expenses and loss: Cost of goods sold Salaries expense Depreciation expense Amortization expense Insurance expense Interest expense Loss on sale of equipment Income tax expense Net income 200 13 $634 48 RR 473 $161 Additional information from the accounting records: a. Investment revenue includes Arduous Company's $27 million share of the net income of Demur Company, an equity method investee. b. Treasury bills were sold during 2021 at a gain of $3 million. Arduous Company classifies its investments in Treasury bills as cash equivalents. c. Equipment originally costing $110 million that was one-half depreciated was rendered unusable by a flood. Most major components of the equipment were unharmed and were sold for $22 million. d. Temporary differences between pretax accounting income and taxable income caused the deferred tax liability to increase by $23 million. e. The preferred stock of Tory Corporation was purchased for $45 million as a long-term investment. f. Land costing $66 million was acquired by issuing $33 million cash and a 15%, four-year, $33 million note payable to the seller. g. The right to use a building was acquired with a 15-year lease agreement; present value of lease payments, $109 million. Annual lease payments of $7 million are paid at the beginning of each year starting January 1, 2021. h. $80 million of bonds were retired at maturity. i. In February, Arduous issued a stock dividend (12.0 million shares). The market price of the $5 par value common stock was $7.50 per share at that time. j. In April, 1 million shares of common stock were repurchased as treasury stock at a cost of $29 million. Required: Prepare the statement of cash flows for Arduous Company using the indirect method. (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).) ARDUOUS COMPANY Statement of Cash Flows For year ended December 31, 2021 Cash flows from operating activities Net income Adjustments for noncash effects Depreciation expense Amortization expense Amortization of discount Loss on equipment damage Changes in operating assets and b Decrease in accounts receivable (in millions) Increase in investment revenue receivable Increase in investment due to equity method income Decrease in salaries payable Increase in inventory Decrease in accounts payable Decrease in salaries payable Increase in interest payable Decrease in income tax payable Increase in deferred tax liability Net cash flows from operating activities Cash flows from investing activities Sale of equipment components Purchase of long-term investment Purchase of land Net cash flows from investing activities Cash flows from financing activities Payment on lease liability Retirement of bonds payable Sale of preferred stock Payment of dividends Purchase of treasury stock Net cash flows from financing activities Net increase in cash Cash balance, January 1 Cash balance, December 31 $ 161 13 3 33 $ 210 0 $ 0 Noncash investing and financing activities: Acquired building with lease Acquired land with cash and