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	$ 134	$ 96
Accounts receivable	205	224
Investment revenue receivable	23	19
Inventory	222	215
Prepaid insurance	21	28
Long-term investment	203	140
Land	227	165
Buildings and equipment	435	430
Less: Accumulated depreciation	(109)	(150)
Patent	42	47
	$ 1,403	$ 1,214
Liabilities
Accounts payable	$ 65	$ 95
Salaries payable	23	33
Interest payable (bonds)	25	19
Income tax payable	27	32
Deferred tax liability	41	23
Notes payable	31	0
Lease liability	97	0
Bonds payable	230	305
Less: Discount on bonds	(37)	(46)
Shareholders Equity
Common stock	475	425
Paid-in capitalexcess of par	125	100
Preferred stock	90	0
Retained earnings	235	228
Less: Treasury stock	(24)	0
	$ 1,403	$ 1,214

ARDUOUS COMPANY
Income Statement For Year Ended
December 31, 2024
($ in millions)
Revenues and gain:
Sales revenue	$ 557
Investment revenue	28
Gain on sale of treasury bills	4	$ 589
Expenses and loss:
Cost of goods sold	195
Salaries expense	88
Depreciation expense	9
Amortization expense	5
Insurance expense	22
Interest expense	43
Loss on sale of equipment	30
Income tax expense	51	443
Net income		$ 146

Additional information from the accounting records:

Investment revenue includes Arduous Companys $23 million share of the net income of Demur Company, an equity method investee.

Treasury bills were sold during 2024 at a gain of $4 million. Arduous Company classifies its investments in Treasury bills as cash equivalents.

Equipment originally costing $100 million that was one-half depreciated was rendered unusable by a flood. Most major components of the equipment were unharmed and were sold for $20 million.

Temporary differences between pretax accounting income and taxable income caused the deferred tax liability to increase by $18 million.

The preferred stock of Tory Corporation was purchased for $40 million as a long-term investment.

Land costing $62 million was acquired by issuing $31 million cash and a 14%, four-year, $31 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, $105 million. Annual lease payments of $8 million are paid at the beginning of each year starting January 1, 2024.

$75 million of bonds were retired at maturity.

In February, Arduous issued a stock dividend (10.0 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 $24 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).