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.

ARDUOUS COMPANY Comparative Balance Sheets December 31, 2021 and 2020 ($ in millions)
	2021				2020
Assets
Cash	$	128			$	93
Accounts receivable		202				218
Investment revenue receivable		19				16
Inventory		219				212
Prepaid insurance		17				24
Long-term investment		193				137
Land		220				162
Buildings and equipment		432				424
Less: Accumulated depreciation		(110	)			(144	)
Patent		44				47
	$	1,364			$	1,189
Liabilities
Accounts payable	$	62			$	89
Salaries payable		19				30
Interest payable (bonds)		21				16
Income tax payable		24				28
Deferred tax liability		35				20
Notes payable		29				0
Lease liability		94				0
Bonds payable		227				299
Less: Discount on bonds		(34	)			(40	)
Shareholders Equity
Common stock		466				422
Paid-in capitalexcess of par		119				97
Preferred stock		87				0
Retained earnings		236				228
Less: Treasury stock		(21	)			0
	$	1,364			$	1,189

ARDUOUS COMPANY Income Statement For Year Ended December 31, 2021 ($ in millions)
Revenues and gain:
Sales revenue	$	528
Investment revenue		24
Gain on sale of treasury bills		3		$	555
Expenses and loss:
Cost of goods sold		192
Salaries expense		85
Depreciation expense		13
Amortization expense		3
Insurance expense		19
Interest expense		40
Loss on sale of equipment		23
Income tax expense		48			423
Net income				$	132

Additional information from the accounting records:

1. Investment revenue includes Arduous Companys $19 million share of the net income of Demur Company, an equity method investee.
2. Treasury bills were sold during 2021 at a gain of $3 million. Arduous Company classifies its investments in Treasury bills as cash equivalents.
3. Equipment originally costing $94 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 $15 million.
5. The preferred stock of Tory Corporation was purchased for $37 million as a long-term investment.
6. Land costing $58 million was acquired by issuing $29 million cash and a 12%, four-year, $29 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, $102 million. Annual lease payments of $8 million are paid at the beginning of each year starting January 1, 2021.
8. $72 million of bonds were retired at maturity.
9. In February, Arduous issued a stock dividend (8.8 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 $21 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 ($ 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 Cash balance, January 1 Cash balance, December 31 Noncash investing and financing activities