[The following information applies to the questions displayed below.) Portions of the financial statements for Hawkeye Company are provided below. $ 810 305 505 HAWKEYE COMPANY Income Statement For the Year Ended December 31, 2021 ($ in millions) Sales Cost of goods sold Gross margin Operating expenses: Salaries Depreciation Loss on sale of land Total operating expenses Operating income Other income (expense): Gain on sale of cash equivalents Interest expense Income before tax Income tax expense Net income $ 223 181 HAWKEYE COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2021 and 2020 ($ in millions) Year 2021 2020 Change Cash 250 $ 219 $ 31 Accounts receivable 386 403 (17) Inventory 898 869 Accounts payable 272 (43) Salaries payable 206 (17) Interest payable 59 14 Income tax payable 122 (23) 29 Required! 1. Prepare the cash flows from operating activities section of the statement of cash flows for Hawkeye Company using the direct method. (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.) Cash Flows from Operating Activities: Net cash flows from operating activities Required: 2. Prepare the cash flows from operating activities section of the statement of cash flows for Hawkeye Company using the indirect method. (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.) Cash Flows from Operating Activities: Adjustments for noncash effects: Changes in operating assets and liabilities: Net cash flows from operating activities $ 0