Problem 21-7 (Algo) Cash flows from operating activities (direct method) derived from an income statement and cash flows from operating activities (indirect method) [LO21-3, 21-4) The Income statement and a schedule reconciling cash flows from operating activities to net income are provided below for Macrosoft Corporation. $320.60 MACROSOR CORPORATION Income Statement For the Year Ended December 31, 2021 (Gilliona) Ravenues and gains Salo $296.00 Gain on sale of cash equivalents 1.30 Cain on halo of investments 23.30 Expenses and loun: cout of goods sold 113.00 Selates 39.30 Interest expense 11.30 Insurando 19.30 Deprecation Patent amortization 3.30 Loss on sale of land 5.30 Incono before tax Indome a expenne Net Income 9.30 200.80 119.80 59.90 $ 59.90 Reconciliation of Net Income to Net Cash Flow from Operating Nivities (inclliona) Net indon $59.90 Adjustments for noncash effects Depreciation expense Patent amortization expense Toss on sale of land Gain on sale of investment Decrease in accounts receivable Increase in inventory Increase in accounts payable Decrease in bond discount Increase in salaries payable Decrease in prepaid insurance Increase in income tax payable Not cash flows from operating activities 9.30 3.30 5.30 (23.30) 5.30 (11.30) 17.30 0.30 5.30 3.30 9.30 $ 84.00 Required: Prepare the cash flows from operating activities section of the statement of cash flows (direct method). (Enter your answers in millions rounded to 2 decimal places (.e., 5,500,000 should be entered as 5.50). Amounts to be deducted should be indicated with a minus sign.) Cash Flows from Operating Activities: Net cash flows from operating activities $ 0.00