The comparative balance sheets for 2021 and 2020 and the statement of income for 2021 are given below for National Intercable Company. Additional information from NICs accounting records is provided also.

NATIONAL INTERCABLE COMPANY Comparative Balance Sheets December 31, 2021 and 2020 ($ in millions)
	2021				2020
Assets
Cash	$	152			$	90
Accounts receivable		269				260
Less: Allowance for uncollectible accounts		(7	)			(5	)
Prepaid insurance		6				10
Inventory		248				240
Long-term investment		46				70
Land		170				170
Buildings and equipment		296				260
Less: Accumulated depreciation		(109	)			(80	)
Trademark		28				30
	$	1,099			$	1,045
Liabilities
Accounts payable	$	37			$	52
Salaries payable		3				4
Deferred tax liability		20				16
Lease liability		70				0
Bonds payable		120				280
Less: Discount on bonds		(25	)			(27	)
Shareholders' Equity
Common stock		300				260
Paid-in capitalexcess of par		110				80
Preferred stock		80				0
Retained earnings		384				380
	$	1,099			$	1,045

NATIONAL INTERCABLE COMPANY Income Statement For Year Ended December 31, 2021 ($ in millions)
Revenues
Sales revenue	$	400
Investment revenue		14
Gain on sale of investments		6		$	420
Expenses
Cost of goods sold		160
Salaries expense		60
Depreciation expense		40
Amortization expense		2
Bad debt expense		6
Insurance expense		22
Interest expense		50
Loss on sale of building		30			370
Income before tax					50
Income tax expense					26
Net income				$	24

Additional information from the accounting records:

Investment revenue includes National Intercable Company's $8 million share of the net income of Central Fiber Optics Corporation, an equity method investee.

A long-term investment in bonds, originally purchased for $32 million, was sold for $38 million.

Pretax accounting income exceeded taxable income, causing the deferred income tax liability to increase by $4 million.

A building that originally cost $44 million, and which was one-fourth depreciated, was destroyed by fire. Some undamaged sections were sold for $3 million.

The right to use a building was acquired with a seven-year lease agreement; present value of lease payments, $80 million. Annual lease payments of $10 million are paid at Jan. 1 of each year starting in 2021.

$160 million of bonds were retired at maturity.

$40 million par value of common stock was sold for $70 million, and $80 million of preferred stock was sold at par.

Shareholders were paid cash dividends of $20 million.

Required: 2. Prepare the statement of cash flows. Present cash flows from operating activities by the direct 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.)