Comparative balance sheets for 2024 and 2023 , a statement of income for 2024 , and additional information from the accounting tecorde of Red incouporated are provided below: Additional information from the accounting records: s. During 2024, \$272 million of equipment was purchased to replace $210 million of equipment (80% depreciated) sold at book value. b. In order to maintain the usual policy of paying cast dividends of $62 mitilion, if was necessary for Red to borrow $62 milition from Tis bank Required: Prepare the statement of cash fiows of Red, Incorporated, for the year ended December 31, 2024, using the direct method to ieport operoting activities. Note: Enter your answers in millions (1.e., 10,000,000 thould be entered a5 10). Cash outflows should be indicoted with o minus slign. Statement of Cash Flows For yearended December 31,2024 (s in militions) Comparative balance sheets for 2024 and 2023 , a statement of income for 2024 , and additional information from the accounting tecorde of Red incouporated are provided below: Additional information from the accounting records: s. During 2024, \$272 million of equipment was purchased to replace $210 million of equipment (80% depreciated) sold at book value. b. In order to maintain the usual policy of paying cast dividends of $62 mitilion, if was necessary for Red to borrow $62 milition from Tis bank Required: Prepare the statement of cash fiows of Red, Incorporated, for the year ended December 31, 2024, using the direct method to ieport operoting activities. Note: Enter your answers in millions (1.e., 10,000,000 thould be entered a5 10). Cash outflows should be indicoted with o minus slign. Statement of Cash Flows For yearended December 31,2024 (s in militions)