Chapter 4 - Part 2 Quiz Comparative Balance Sheets for 2021 and 2020, an income statement for 2021, and additional information from the accounting records of KRP, Inc. are provided below. KRP, Inc. , Comparative Balance Sheet December 31, 2021 and 2020 ($ in millions) 2021 2020 Assets Cash Accounts receivable Prepaid insurance Inventory Buildings and equipment Less: Accumulated depreciation Total assets $24 178 7 285 400 (119) $775 $110 132 3 175 350 (240) $530 $100 11 Liabilities Accounts payable Accrued liabilities Notes payable Bonds payable Total liabilities Shareholders Equity Common stock Retained earnings Total liabilities and equity $87 6 50 160 $303 0 0 0 $111 $400 72 $775 $400 19 $530 KRP, Inc. Income Statement For year ended December 31, 2021 ($ in millions) $2,000 1,400 600 Sales revenue Cost of goods sold Gross profit Operating expenses Depreciation expense Selling and administrative expenses Total operating expenses Net income $50 447 497 $103 Additional information: a. During 2021, $230 million of equipment was purchased to replace $180 million of equipment (95% depreciated) that was sold at book value, b. In order to pay cash dividends of $50 million, KRP had to borrow $50 million from their bank. Required fill in the blank (for total cash outflow, you must specify a negative number): 1) What are KRP's total cash flows from operating activities for 2021? 2) What are KRP's total cash flows from investing activities for 2021? 3) What are KRP's total cash flows from financing activities for 2021