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Business, 02.04.2021 01:30 smcculleymcculley

Portions of the financial statements for Myriad Products are provided below. MYRIAD PRODUCTS COMPANY Income Statement For the Year Ended December 31, 2021 ($ in millions) Sales $ 800 Cost of goods sold 280 Gross margin 520 Salaries expense $ 125 Depreciation expense 88 Amortization expense 5 Interest expense 28 Loss on sale of land 4 250 Income before taxes 270 Income tax expense 135 Net Income $ 135 MYRIAD PRODUCTS COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2021 and 2020 ($ in millions) Year 2021 2020 Change Cash $ 123 $ 120 $ 3 Accounts receivable 251 262 (11 ) Inventory 460 470 (10 ) Accounts payable 190 174 16 Salaries payable 95 106 (11 ) Interest payable 55 40 15 Income tax payable 45 30 15 Required: Prepare the cash flows from the 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.)

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