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katovenus [111]
3 years ago
7

Milliken Company paid $2.2 million to purchase stock in another company, $1.0 million to repurchase treasury shares, $0.5 millio

n to buy short-term investments, sold used equipment for $0.8 million when its book value was $0.6 million, and purchased new equipment for $3.4 million. What was the net cash flow from investing activities? $6.3 million net cash outflow. $5.3 million net cash outflow. $5.1 million net cash outflow. $4.8 million net cash outflow.
Business
1 answer:
LenKa [72]3 years ago
8 0

Answer:

Net cash flow from investing activities -$5.3 million

Explanation:

The computation of the net cash flow from investing activities is shown below:

Purchase stock -$2.2 million

Short term investment purchase -$0.5 million

Sold equipment $0.8 million

Purchase new equipment -$3.4 million

Net cash flow from investing activities -$5.3 million

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Tax planning Question 6 options: guides investment activities to maximize after-tax returns over the long term for an acceptable
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