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

ARDUOUS COMPANY
Comparative Balance Sheets
December 31, 2024 and 2023
($ in millions)
	2024	2023
Assets
Cash	$ 109	$ 81
Accounts receivable	190	194
Investment revenue receivable	6	4
Inventory	205	200
Prepaid insurance	4	8
Long-term investment	156	125
Land	196	150
Buildings and equipment	412	400
Less: Accumulated depreciation	(97)	(120)
Patent	30	32
	$ 1,211	$ 1,074
Liabilities
Accounts payable	$ 50	$ 65
Salaries payable	6	11
Interest payable (bonds)	8	4
Income tax payable	12	14
Deferred tax liability	11	8
Notes payable	23	0
Lease liability	75	0
Bonds payable	215	275
Less: Discount on bonds	(22)	(25)
Shareholders Equity
Common stock	430	410
Paid-in capitalexcess of par	95	85
Preferred stock	75	0
Retained earnings	242	227
Less: Treasury stock	(9)	0
	$ 1,211	$ 1,074

ARDUOUS COMPANY
Income Statement For Year Ended
December 31, 2024
($ in millions)
Revenues and gain:
Sales revenue	$ 410
Investment revenue	11
Gain on sale of treasury bills	2	$ 423
Expenses and loss:
Cost of goods sold	180
Salaries expense	73
Depreciation expense	12
Amortization expense	2
Insurance expense	7
Interest expense	28
Loss on sale of equipment	18
Income tax expense	36	356
Net income		$ 67

Additional information from the accounting records:

Investment revenue includes Arduous Companys $6 million share of the net income of Demur Company, an equity method investee.

Treasury bills were sold during 2024 at a gain of $2 million. Arduous Company classifies its investments in Treasury bills as cash equivalents.

Equipment originally costing $70 million that was one-half depreciated was rendered unusable by a flood. Most major components of the equipment were unharmed and were sold for $17 million.

Temporary differences between pretax accounting income and taxable income caused the deferred tax liability to increase by $3 million.

The preferred stock of Tory Corporation was purchased for $25 million as a long-term investment.

Land costing $46 million was acquired by issuing $23 million cash and a 15%, four-year, $23 million note payable to the seller.

The right to use a building was acquired with a 15-year lease agreement; present value of lease payments, $82 million. Annual lease payments of $7 million are paid at the beginning of each year starting January 1, 2024.

$60 million of bonds were retired at maturity.

In February, Arduous issued a stock dividend (4 million shares). The market price of the $5 par value common stock was $7.50 per share at that time.

In April, 1 million shares of common stock were repurchased as treasury stock at a cost of $9 million.

Required:

Prepare the statement of cash flows for Arduous Company using the indirect method.

Note: 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).

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