Using the last photo as a template, can you Prepare a spreadsheet for preparation of the statement of cash flows (direct method) of Spartan Corp. for the year ended December 31, 2024.

The comparative balance sheets for 2024 and 2023 and the income statement for 2024 are given in the next two sheets for Spartan Company. Additional information from Spartan's accounting records is provided as follows. a. Investment revenue includes Spartan's \$6 million share of the net income of Central Fiber Optics Corporation, an equity method investee. b. A long-term investment in bonds, originally purchased for $30 million, was sold for $35 million c. Pretax accounting income exceeded taxable income, causing the deferred income tax liability to increase by $3 million. d. A building that originally cost $60 million, and which was one-fourth depreciated, was destroyed by fire. Some undamaged sections were sold for $3 million. e. The right to use a building was acquired with a seven-year lease agreement; present value of lease payments, $80 million. Annual lease payments of \$12 million are paid on Jan. 1 of each year starting in 2024. f. $130 million of bonds were retired at maturity. g. \$20 million par value of common stock was sold for $30 million, and $50 million of preferred stock was sold at par. h. Shareholders were paid cash dividends of $30 million. Spartan Corp. Income Statement For Year Ended ( $ in millions) Revenues and gain: Sales revenue Investment revenue Gain on sale of Treasury bills 31-Dec-24 Expenses and loss: Cost of goods sold Salaries expense Depreciation expense Amortization expense Bad debt expense Insurance expense Interest expense Loss on sale of equipment Income before tax Income tax expense Net income \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|l|}{ Spartan Corp } \\ \hline \multicolumn{3}{|l|}{ Comparative Balance Sheets } \\ \hline \multicolumn{3}{|l|}{ December 31, 2024 and 2023} \\ \hline \multicolumn{3}{|l|}{ ( $ in millions) } \\ \hline & 2024 & 2023 \\ \hline \multicolumn{3}{|l|}{ Assets } \\ \hline Cash & 57 & 55 \\ \hline Accounts receivable & 181 & 170 \\ \hline Less: Allowance for uncollectible accounts & (8) & (6) \\ \hline Prepaid insurance & 7 & 12 \\ \hline Inventory & 170 & 165 \\ \hline Long-term investment & 66 & 90 \\ \hline Land & 150 & 150 \\ \hline Buildings and equipment & 290 & 270 \\ \hline Less: Accumulated depreciation & (85) & (75) \\ \hline \multirow[t]{2}{*}{ Trademark } & 24 & 25 \\ \hline & 852 & 856 \\ \hline \multicolumn{3}{|l|}{ Liabilities } \\ \hline Accounts payable & 30 & 45 \\ \hline Salaries payable & 3 & 8 \\ \hline Deferred tax liability & 18 & 15 \\ \hline Lease liability & 68 & 0 \\ \hline Bonds payable & 145 & 275 \\ \hline Less: Discount on bonds & (22) & (25) \\ \hline \multicolumn{3}{|l|}{ Shareholders' Equity } \\ \hline Common stock & 310 & 290 \\ \hline Paid-in capital-excess of par & 95 & 85 \\ \hline Preferred stock & 50 & 0 \\ \hline \multirow[t]{2}{*}{ Retained earnings } & 155 & 163 \\ \hline & 852 & 856 \\ \hline \end{tabular} BENEFICIAL DRILL COMPANY Spreadsheet for the Statement of Cash Flows Dec. 31, 2023 Changes \begin{tabular}{lc} Credits & \begin{tabular}{c} Dec. 31, \\ 2024 \end{tabular} \\ \hline \end{tabular} Balance Sheet Assets: Cash Accounts receivable Investment revenue receivable Inventory Prepaid insurance Long-term investments Land Buildings and equipment Less: Accumulated depreciation Patent Liabilities: Accounts payable Salaries payable Interest payable Income tax payable Deferred tax liability Notes payable Bonds payable Less: Discount on bonds Shareholders' Equity: Common stock Paid-in capitalexcess of par Retained earnings Less: Treasury stock Income Statement Revenues: Investment revenue Gain on sale of Treasury bills Expenses: Cost of goods sold Salaries expense Depreciation expense Amortization expense Insurance expense Interest expense (bonds) Loss on sale of equipment Income tax expense Net income Statement of Cash Flows Operating Activities: Cash inflows: From customers From investment revenue From sale of Treasury bills (1) 202 (2) 2 (3) 1 (2) 66 (3) 1 (4) 110 (5) 30 (6) 5 (7) 1 (8) 3 (9) 14 (10) 10 (11) 7 (12) 27 Cash outflows: To suppliers of goods To employees For insurance For interest For income tax Net cash flows Investing Activities: Sale of equipment Purchase of Long-term investment Purchase of land Purchase of equipment (9) 24 (11) 2 6 (11) 15 (14) 15X15 (16) 20150 (9) 1 (9) (17) 10210 (17) 44 (17) 14 \begin{tabular}{rrr} (20) & 17 & 24 \\ (1) & 2 & 94 \\ & & 3 \\ & & 115 \\ (8) & 1 & 2 \\ & & \\ & & 77 \\ & & 110 \\ (10) & 60 & 220 \\ (9) & 5 & (35) \\ (7) & 1 & 15 \\ & & 625 \\ \hline \end{tabular} \begin{tabular}{r} 16 \\ \hline 588 \\ \hline \end{tabular} (10) (18) 10 (12) 27182 (19) 7 \begin{tabular}{r} (7) \\ \hline 625 \\ \hline \end{tabular} Sales revenue (1) 200 200 (4) 122 (5) 33 (8) 2 (9) 11 (11) 8 Net cash flows (13) 14 (14) 15 (15) 40 Financing Activities: Issuance of bonds payable 20 (49) Payment of dividends (18) 10 Purchase of treasury stock 20 29 (19) 7 Net cash flows 3