Portions of the financial statements for Myriad Products are provided below. Required: Prepare the cash flows from

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Portions of the financial statements for Myriad Products are provided below. 

MYRIAD PRODUCTS COMPANY Income Statement For the Year Ended December 31, 2021 ($ in millions) Sales $660 Cost of goods sold 250 Gross margin Salaries expense Depreciation expense Amortization expense 410 $110 90 Interest expense 20 Loss on sale of land 3 228 Income before taxes 182 Income tax expense


Required: 

Prepare the cash flows from operating activities section of the statement of cash flows for Myriad Products Company using the direct method.

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Intermediate Accounting

ISBN: 978-1260481952

10th edition

Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas

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