Exercise 21-23 (Algo) Cash flows from operating activities (direct method) [LO21-3] Portions of the financial statements for Myriad Products are provided below. $ 780 273 507 MYRIAD PRODUCTS COMPANY Income Statement For the Year Ended December 31, 2021 ($ in millions) Sales Cost of goods sold Gross margin Salaries expense $120 Depreciation expense 86 Amortization expense 5 Interest expense 26 Loss on sale of land 4 Income before taxes Income tax expense Net Income 241 266 133 $ 133 MYRIAD PRODUCTS COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2021 and 2020 ($ in millions) Year 2021 2020 Change Cash $120 $118 $ 2 Accounts receivable 249 259 (10) Inventory 449 468 (19) Accounts payable 185 170 15 Salaries payable 92 104 (12) Interest payable 38 14 Income tax payable 42 28 14 52 Required: Prepare the cash flows from operating activities section of the statement of cash flows for Myriad Products Company using the direct method. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) ($ in millions) Cash Flows from Operating Activities: Net cash flows from operating activities $ 0