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kykrilka [37]
3 years ago
8

In preparation for developing its statement of cash flows for the year ended December 31, 2018, Millennium Solutions, Inc. colle

cted the following information: ($ in millions) Payment for the early extinguishments of long-term notes (book value: $71.0 million) $ 75.0 Sale of common shares 220.0 Retirement of common shares 133.0 Loss on sale of equipment 3.1 Proceeds from sale of equipment 12.4 Issuance of short-term note payable for cash 21.0 Acquisition of building for cash 12.5 Purchase of marketable securities (not a cash equivalent) 16.0 Purchase of marketable securities (considered a cash equivalent) 12.0 Cash payment for 3-year insurance policy 14.0 Collection of note receivable with interest (principal amount, $22) 24.0 Declaration of cash dividends 54.0 Distribution of cash dividends declared in 2017 51.0 Required: 1. In Millennium’s statement of cash flows, what were net cash inflows (or outflows) from investing activities for 2018? 2. In Millennium’s statement of cash flows, what were net cash inflows (or outflows) from financing activities for 2018?
Business
1 answer:
ValentinkaMS [17]3 years ago
3 0

Answer:

cash flow used on financing activities       (18.0)

cash flow generated from investing activies    7.9

Explanation:

<u>cash from financing</u>

Sale of common shares                            220.0

Issuance of short-term note                        21.0

extinguishment of long-term debt             (75.0)

Retirement of common shares                 (133.0)

Cash dividends distributed                      <u>  (51.0)  </u>

cash flow used on financing activities       (18.0)

<u>cash from investing</u>

sale of equipment proceeds                             12.4

note receivable  proceeds                               24.0

acquisition of building                                      (12.5)

marketable securities                                     <u>  (16.0)  </u>

cash flow generated from investing activies    7.9

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