Portions of the financial statements for Myriad Products are provided below. $ 720 252 468 MYRIAD PRODUCTS COMPANY Income Statement For the Year Ended December 31, 2021 ($ in millions) Sales Cost of goods sold Gross margin Salaries expense $105 Depreciation expense 80 Amortization expense 5 Interest expense 20 Loss on sale of land 4 Income before taxes Income tax expense Net Income 214 254 127 $ 127 MYRIAD PRODUCTS COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2021 and 2020 ($ in millions) Year 2021 2020 Change Cash $120 $112 $ 8 Accounts receivable 232 250 (18) Inventory 446 462 (16) Accounts payable 170 158 12 Salaries payable 86 98 (12) Interest payable 43 32 11 Income tax payable 33 22 11 Required: Prepare the cash flows from the operating activities section of the statement of cash flows for Myriad Products 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.) ($ in millions) $ 127 Cash Flows from Operating Activities: Net income Adjustments for noncash effects: Depreciation expense Amortization expense Loss on sale of land 80 5 4 Changes in operating assets and liabilities: Increase in accounts payable Decrease in salaries payable Increase in interest payable Increase in income tax payable 12 (12) 11 11 Net cash flows from operating activities $ 238