The comparative balance sheets for 2024 and 2023 are given below for Surmise Company. Net income for 2024 was $5n millinn Statement of Cash Flows Operating activities: Net income 50 Adjustments for noncash effects: Net cash flows Investing activities: Net cash flows Financing activities: Net cash flows Net decrease in cash Totals 2. Complete the Worksheet: SURMISE COMPANY Spreadsheet for the Statement of Cash Flows (\$ in millions) Changes 31-Dec-23 Debits Credits 31-Dec-24 Balance Sheet Assets: Liabilities: Statement of Cash Flows Operating activities: Net income 50 Changes in operating assets and liabilities: Net cash flows from operating activities Net cash flows from investing activities \begin{tabular}{l} \hline Net cash flows from financing activities \\ \hline Net increase (decrease) in cash \\ \hline Cash balance, January 1 \\ \hline Cash balance, December 31 \\ \hline Noncash investing and financing activities: \\ \hline \end{tabular} 1. Prepare the statement of cash flows of Surmise Company for the year ended December 31, 2024. Use the indirect method to present cash flows from operating activities because you do not have sufficient information to use the direct method. You will need to make reasonable assumptions concerning the reasons for changes in some account balances. A spreadsheet or T-account analysis will be helpful. (Hint: The right to use a building was acquired with a seven-year lease agreement. Annual lease payments of $9 million are paid at January 1 of each year starting in 2024.) 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 sian. The comparative balance sheets for 2024 and 2023 are given below for Surmise Company. Net income for 2024 was $5n millinn Statement of Cash Flows Operating activities: Net income 50 Adjustments for noncash effects: Net cash flows Investing activities: Net cash flows Financing activities: Net cash flows Net decrease in cash Totals 2. Complete the Worksheet: SURMISE COMPANY Spreadsheet for the Statement of Cash Flows (\$ in millions) Changes 31-Dec-23 Debits Credits 31-Dec-24 Balance Sheet Assets: Liabilities: Statement of Cash Flows Operating activities: Net income 50 Changes in operating assets and liabilities: Net cash flows from operating activities Net cash flows from investing activities \begin{tabular}{l} \hline Net cash flows from financing activities \\ \hline Net increase (decrease) in cash \\ \hline Cash balance, January 1 \\ \hline Cash balance, December 31 \\ \hline Noncash investing and financing activities: \\ \hline \end{tabular} 1. Prepare the statement of cash flows of Surmise Company for the year ended December 31, 2024. Use the indirect method to present cash flows from operating activities because you do not have sufficient information to use the direct method. You will need to make reasonable assumptions concerning the reasons for changes in some account balances. A spreadsheet or T-account analysis will be helpful. (Hint: The right to use a building was acquired with a seven-year lease agreement. Annual lease payments of $9 million are paid at January 1 of each year starting in 2024.) 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 sian