3 $ 846 546 MYRIAD PRODUCTS COMPANY Income Statement For the Year Ended December 31,...
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3 $ 846 546 MYRIAD PRODUCTS COMPANY Income Statement For the Year Ended December 31, 2018 (Sin millions) Sales Cost of goods sold Gross margin Salaries expense Depreciation expense Patent amortization expense Interest expense Loss on sale of land Income before taxes Income tax expense Net Income $135 MYRIAD PRODUCTS COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2018 and 2017 ($ in millions) 2018 $129 255 462 188 Cash Accounts receivable Inventory Accounts payable Salaries payable Interest payable Income taxes payable 2017 $124 268 474 182 Change S5 (13) (12) 110 (6) 48 Required: Prepare the cash flows from operating activities section of the statement of cash flows for Myriad Products Company using the direct method (Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions (1.e., 10.000.000 should be entered as 10).) ($ in millions) Cash Flows from Operating Activities Cash received from customers Cash paid to suppliers Cash paid to employees Cash paid for income taxes Cash paid for interest
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