Exercise 21-23 Cash flows from operating activities (direct method) [LO21-3]

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

MYRIAD PRODUCTS COMPANY Income Statement For the Year Ended December 31, 2018 ($ in millions)
Sales					$	620
Cost of goods sold						217
Gross margin						403
Salaries expense	$	85
Depreciation expense		72
Patent amortization expense		5
Interest expense		12
Loss on sale of land		3				177
Income before taxes						226
Income tax expense						113
Net Income					$	113

MYRIAD PRODUCTS COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2018 and 2017 ($ in millions)
	Year
	2018			2017			Change
Cash	$	108		$	104		$	4
Accounts receivable		224			238			(14	)
Inventory		442			454			(12	)
Accounts payable		150			142			8
Salaries payable		82			90			(8	)
Interest payable		31			24			7
Income taxes payable		21			14			7

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).)