On July 15, 2021, M.W. Morgan Distribution sold land for $40.5 million that it had purchased...

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On July 15, 2021, M.W. Morgan Distribution sold land for $40.5 million that it had purchased in 2016 for $33.0 million. Required: What would be the amount(s) related to the sale that Morgan would report in its statement of cash flows for the year ended December 31, 2021, using the direct method? The indirect method? Complete this question by entering your answers in the tabs below. Direct Method Indirect Method What would be the amount(s) related to the sale that Morgan would report in its statement of cash flows for the year ended December 31, 2021, using the direct method? (List any cash outflows with a minus sign. Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) ($ in millions) Cash inflow from investing activities $ 40.5 Indirect Direct Method Method What would be the amount(s) related to the sale that Morgan would report in its statement of cash flows for the year ended December 31, 2021, using the indirect method? (List any cash outflows with a minus sign. Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) ($ in millions) Cash inflow from investing activities $ 40.5 On July 15, 2021, M.W. Morgan Distribution sold land for $40.5 million that it had purchased in 2016 for $33.0 million. Required: What would be the amount(s) related to the sale that Morgan would report in its statement of cash flows for the year ended December 31, 2021, using the direct method? The indirect method? Complete this question by entering your answers in the tabs below. Direct Method Indirect Method What would be the amount(s) related to the sale that Morgan would report in its statement of cash flows for the year ended December 31, 2021, using the direct method? (List any cash outflows with a minus sign. Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) ($ in millions) Cash inflow from investing activities $ 40.5 Indirect Direct Method Method What would be the amount(s) related to the sale that Morgan would report in its statement of cash flows for the year ended December 31, 2021, using the indirect method? (List any cash outflows with a minus sign. Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) ($ in millions) Cash inflow from investing activities $ 40.5

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Answer Cash flow statements are the statements that determine the inflow and outflow of cash It is a ... View the full answer