Question: Brief Exercise 11-11 Calculate net cash flows from financing activities (LO11-5) Creative Sound Systems sold investments, land, and its own common stock for $320 million

Brief Exercise 11-11 Calculate net cash flows from financing activities (LO11-5) Creative Sound Systems sold investments, land, and its own common stock for $320 million $15.2 million, and $40.4 million. respectively. Creative Sound Systems also purchased treasury stock, equipment, and a patent for $21.2 million $25.2 million and $12.2 million, respectively. What amount should Creative Sound Systems report as net cash flows from financing activities? (LIst cash outfiows and any decrease In cash as negative amounts. Round your answers to 1 decimal place. Enter your answers in millions (1.e., $10,100,000 should be entered as 10.1.) Answer is complete but not entirely correct. CREATIVE SOUND SYSTEMS Statement of Cash Flows (partial) Cash flows from financing activities Sale of investments Xs 32.0 Sale of land X 15.2 % Purchase a patent (122) X Purchase equipment (25.2) X Net cash flows from financing activities S 9.8
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