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

Additional information from the accounting records:

1. Investment revenue includes Arduous Companys $23 million share of the net income of Demur Company, an equity method investee.
2. Treasury bills were sold during 2021 at a gain of $2 million. Arduous Company classifies its investments in Treasury bills as cash equivalents.
3. Equipment originally costing $104 million that was one-half depreciated was rendered unusable by a flood. Most major components of the equipment were unharmed and were sold for $24 million.
4. Temporary differences between pretax accounting income and taxable income caused the deferred tax liability to increase by $20 million.
5. The preferred stock of Tory Corporation was purchased for $42 million as a long-term investment.
6. Land costing $64 million was acquired by issuing $32 million cash and a 15%, four-year, $32 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, $107 million. Annual lease payments of $8 million are paid at the beginning of each year starting January 1, 2021.
8. $77 million of bonds were retired at maturity.
9. In February, Arduous issued a stock dividend (10.8 million shares). The market price of the $5 par value common stock was $7.50 per share at that time.
10. In April, 1 million shares of common stock were repurchased as treasury stock at a cost of $26 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).)

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) 2021 2020 Assets Cash $ 138 $ 98 Accounts receivable 207 228 Investment revenue 23 21 receivable Inventory 223 217 Prepaid insurance 21 30 Long-term investment 207 142 Land 231 167 Buildings and equipment 437 434 Less: Accumulated depreciation (113) (154) Patent 47 50 $1,421 $1,233 Liabilities Accounts payable $ 67 $ 99 Salaries payable 23 35 Interest payable (bonds) 25 21 Income tax payable 29 34 Deferred tax liability 45 25 Notes payable 32 0 Lease liability 99 0 Bonds payable 232 309 Less: Discount on bonds (39) (42) Shareholders' Equity Common stock 481 427 Paid-in capital-excess 129 102 of par Preferred stock Retained earnings Less: Treasury stock 92 232 (26) $1,421 0 223 0 $1,233 ARDUOUS COMPANY Income Statement For Year Ended December 31, 2021 I miliona ARDUOUS COMPANY Income Statement For Year Ended December 31, 2021 ($ in millions) Revenues and gain: Sales revenue $575 Investment revenue 29 Gain on sale of treasury 2 $606 bills Expenses and loss: Cost of goods sold 197 Salaries expense 90 Depreciation expense 11 Amortization expense 3 Insurance expense 24 Interest expense 45 Loss on sale of equipment 28 Income tax expense 53 451 Net income $155 Additional information from the accounting records: a. Investment revenue includes Arduous Company's $23 million share of the net income of Demur Company, an equity method investee. b. Treasury bills were sold during 2021 at a gain of $2 million. Arduous Company classifies its investments in Treasury bills as cash equivalents. C. Equipment originally costing $104 million that was one-half depreciated was rendered unusable by a flood. Most major components of the equipment were unharmed and were sold for $24 million. d. Temporary differences between pretax accounting income and taxable income caused the deferred tax liability to increase by $20 million. e. The preferred stock of Tory Corporation was purchased for $42 million as a long-term investment. f. Land costing $64 million was acquired by issuing $32 million cash and a 15%, four-year, $32 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, $107 million. Annual lease payments of $8 million are paid at the beginning of each year starting January 1, 2021. h. $77 million of bonds were retired at maturity. i. In February, Arduous issued a stock dividend (10.8 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 $26 million. Required: Prepare the statement of cash flows for Arduous Company using the indirect method. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Required: Prepare the statement of cash flows for Arduous Company using the indirect method. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) ARDUOUS COMPANY Statement of Cash Flows For year ended December 31, 2021 ($ in millions) Cash flows from operating activities: Net income Adjustments for noncash effects: Changes in operating assets and liabilities: Net cash flows from operating activities Cash flows from investing activities: Net cash flows from investing activities Cash flows from financing activities: Net cash flows from financing activities Net increase in cash Adjustments for noncash effects: Changes in operating assets and liabilities: Net cash flows from operating activities Cash flows from investing activities: Net cash flows from investing activities Cash flows from financing activities: Net cash flows from financing activities Net increase in cash Cash balance, January 1 Cash balance, December 31 Noncash investing and financing activities