Exercises i Saved Exercise 21-23 (Algo) Cash flows from operating activities (direct method) (LO21-3] Portions of the financial statements for Myriad Products are provided below. $ 860 301 559 MYRTAD PRODUCTS COMPANY Income Statement For the Year Ended December 31, 2021 ($ in millions) Sales Cost of goods sold Gross margin Salaries expense Depreciation expense Amortization expense Interest expense Loss on sale of land Income before taxes Income tax expense Net Income $140 94 5 34 4 277 282 141 $. 141 ho HVRIAD PRODUCTS COMPANY Selected Accounts from Comparative Balance sheets December 31, 2021 ind 2020 cises Saved Help MYRIAD PRODUCTS COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2021 and 2020 ($ in millions) Year 2021 2020 Cash Change $132 $126 $ 6 Accounts receivable 257 271 Inventory (14) 463 476 Accounts payable (13) 193 186 7 Salaries payable 105 112 (7) Interest payable 51 46 Income tax payable 42 36 6 5 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 (ie. 10,000,000 should be entered as 10).) (S in millions) Cash Flows from Operating Activities Search RE D Prepare the cash flows from operating activities section of the method. (Amounts to be deducted should be indicated with a be entered as 10).) ($ in millions) Cash Flows from Operating Activities: Net cash flows from operating activities Prey WE