Sales MYRIAD PRODUCTS COMPANY Income Statement For the Year Ended December 31, 2024 Cost of goods...

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Sales MYRIAD PRODUCTS COMPANY Income Statement For the Year Ended December 31, 2024 Cost of goods sold Gross margin ($ in millions) Salaries expense Depreciation expense Amortization expense Interest expense Loss on sale of land Income before taxes Income tax expense Net Income 940 329 611 $ 160 102 5 42 4 313 298 149 $ 149 MYRIAD PRODUCTS COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2024 and 2023 ($ in millions) Year 2024 2023 Change Cash $ 144 $ 134 $ 10 Accounts receivable 265 283 (18) Inventory 467 484 (17) Accounts payable 213 202 11 Salaries payable 109 120 (11) Interest payable 63 54 9 Income tax payable 54 44 10 Required: Prepare the cash flows from the operating activities section of the statement of cash flows for Myriad Products Company using the indirect method. Note: Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Cash outflows should be indicated with a minus sign. Cash Flows from Operating Activities: Adjustments for noncash effects: ($ in millions) Changes in operating assets and liabilities: Net cash flows from operating activities Sales MYRIAD PRODUCTS COMPANY Income Statement For the Year Ended December 31, 2024 Cost of goods sold Gross margin ($ in millions) Salaries expense Depreciation expense Amortization expense Interest expense Loss on sale of land Income before taxes Income tax expense Net Income 940 329 611 $ 160 102 5 42 4 313 298 149 $ 149 MYRIAD PRODUCTS COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2024 and 2023 ($ in millions) Year 2024 2023 Change Cash $ 144 $ 134 $ 10 Accounts receivable 265 283 (18) Inventory 467 484 (17) Accounts payable 213 202 11 Salaries payable 109 120 (11) Interest payable 63 54 9 Income tax payable 54 44 10 Required: Prepare the cash flows from the operating activities section of the statement of cash flows for Myriad Products Company using the indirect method. Note: Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Cash outflows should be indicated with a minus sign. Cash Flows from Operating Activities: Adjustments for noncash effects: ($ in millions) Changes in operating assets and liabilities: Net cash flows from operating activities