Exercise 21-24 Cash flows from operating activities (indirect method) (LO21-4] Portions of the financial statements for Myriad Products are provided below. $ 840 294 546 MYRIAD PRODUCTS COMPANY Income Statement For the Year Ended December 31, 2018 ($ in millions) Sales Cost of goods sold Gross margin Salaries expense Depreciation expense Patent amortization expense Interest expense Loss on sale of land Income before taxes Income tax expense Net Income 268 278 139 $ 139 MYRIAD PRODUCTS COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2018 and 2017 ($ in millions) Year 2018 2017 Change Cash $129 $124 $ 5 Accounts receivable 255 268 (13) Inventory 462 474 (12) Accounts payable 188 182 Salaries payable 104 110 Interest payable Income taxes payable 34 Required: Prepare the cash flows from operating activities section of the statement of cash flows for Myriad Products Company using the indirect method. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10.). Amounts to be deducted should be indicated with a minus sign.) ($ in millions) Cash Flows from Operating Activities: Net income Adjustments for noncash effects: Changes in operating assets and liabilities: Net cash flows from operating activities