The comparative balance sheets for 2024 and 2023 and the statement of income for 2024 are given below for National Intercable Company. Additional information from NICs accounting records is provided also.

NATIONAL INTERCABLE COMPANY
Comparative Balance Sheets
December 31, 2024 and 2023
($ in millions)
	2024	2023
Assets
Cash	$ 76	$ 70
Accounts receivable	207	200
Less: Allowance for uncollectible accounts	(8)	(6)
Prepaid insurance	9	12
Inventory	188	180
Long-term investment	30	50
Land	180	180
Buildings and equipment	252	220
Less: Accumulated depreciation	(73)	(60)
Trademark	27	30
	$ 888	$ 876
Liabilities
Accounts payable	$ 33	$ 44
Salaries payable	5	6
Deferred tax liability	14	12
Lease liability	53	0
Bonds payable	140	260
Less: Discount on bonds	(20)	(22)
Shareholders' Equity
Common stock	240	220
Paid-in capitalexcess of par	90	60
Preferred stock	40	0
Retained earnings	293	296
	$ 888	$ 876

NATIONAL INTERCABLE COMPANY
Income Statement
For Year Ended December 31, 2024
($ in millions)
Revenues
Sales revenue	$ 290
Investment revenue	12
Gain on sale of investments	4	$ 306
Expenses
Cost of goods sold	120
Salaries expense	54
Depreciation expense	20
Amortization expense	3
Bad debt expense	8
Insurance expense	14
Interest expense	30
Loss on sale of building	19	268
Income before tax		38
Income tax expense		27
Net income		$ 11

Additional information from the accounting records:

1. Investment revenue includes National Intercable Company's $4 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 $24 million, was sold for $28 million.
3. Pretax accounting income exceeded taxable income, causing the deferred income tax liability to increase by $2 million.
4. A building that originally cost $28 million, and which was one-fourth depreciated, was destroyed by fire. Some undamaged sections were sold for $2 million.
5. The right to use a building was acquired with a seven-year lease agreement; present value of lease payments, $60 million. Annual lease payments of $7 million are paid on Jan. 1 of each year starting in 2024.
6. $120 million of bonds were retired at maturity.
7. $20 million par value of common stock was sold for $50 million, and $40 million of preferred stock was sold at par.
8. Shareholders were paid cash dividends of $14 million.

Required:

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

Note: 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.