The following information is available for Looney Company (dollars in millions). Please use this information for the following questions Income statement For the year ended December 31, 2020 Sales $ 700 Cost of Goods Sold 500 Depreciation Expense 6 Other Expenses 144 Net Income 50 650 Balance Sheet At December 31, Cash Accounts receivable Inventory Land Plant and Equipment Less: Accumulated Depreciation Total assets 2020 $ 44 11 98 86 240 (51) 428 2019 $ 27 4 85 81 200 (45) 352 Accounts Payable (suppliers of inventory) 57 55 Long-term Debt 43 22 Common Stock 218 185 Retained Earnings 110 Total Liabilities and Stockholders' Equity $ 428 $ 352 Other Information: *Other expenses" were paid in cash during fiscal 2020. There were only two transactions concerning Land in 2020. During March. Looney sold Land for $30 million at no gain or loss. 2. How much cash was paid for inventory in 2020? 3. What were the cash flows from operations for 2020? 4. What were the net cash flows from investing activities for 2020? 5. What were the net cash flows from financing activities for 2020