The chief accountant for Grandview Corporation provides you with the companys 2024 statement of cash flows and income statement. The accountant has asked for your help with some missing figures in the companys comparative balance sheets. These financial statements are shown next ($ in millions).

GRANDVIEW CORPORATION
Statement of Cash Flows
For the Year Ended December 31, 2024
Cash Flows from Operating Activities:
Collections from customers	$ 114
Payment to suppliers	(42)
Payment of general and administrative expense	(29)
Payment of income taxes	(20)
Net cash flows from operating activities		$ 23
Cash Flows from Investing Activities:
Sale of investments		76
Cash Flows from Financing Activities:
Issuance of common stock	16
Payment of dividends	(9)
Net cash flows from financing activities		7
Net increase in cash		$ 106

GRANDVIEW CORPORATION
Income Statement
For the Year Ended December 31, 2024
Sales revenue		$ 124
Cost of goods sold		43
Gross profit		81
Operating expenses:
General and administrative expense	$ 29
Depreciation expense	21
Total operating expenses		50
Operating income		31
Other income:
Gain on sale of investments		15
Income before income taxes		46
Income tax expense		13
Net income		$ 33

Required:

1. Calculate the missing amounts.

GRANDVIEW CORPORATION Balance Sheets At December 31 ($ in millions) 2024 2023 Assets: Cash $164 Accounts receivable 95 Investments 61 Inventory 71 Property, plant and equipment 161 161 Less: Accumulated depreciation (87) Total assets Liabilities and Shareholders Equity: Accounts payable $49 $41 Accrued liabilities (for selling and administrative expense) 20 20 Income taxes payable 33 Common stock 257 241 Retained earnings 31 Total liabilities and shareholders equity

2. Prepare the operating activities section of Grandviews 2024 statement of cash flows using the indirect method.