COTB Exercise $21-4($Algo$)$ Identifying cash flows from investing activities and financing activities $[$LO$21-5,21-6]$

Skip to question

$[$The following information applies to the questions displayed below.$]$

In preparation for developing its statement of cash flows for the year ended December $31,$ Year $2,$ Company A collected the following information:

$($$ in millions$)$

Fair value of shares issued in a stock dividend $ $48\mathrm{.}0$

Payment for the early extinguishment of

long$-$term bonds $($book value: $$76\mathrm{.}0$ million$)81\mathrm{.}0$

Proceeds from the sale of treasury stock $($cost: $$12\mathrm{.}0$ million$)17\mathrm{.}0$

Gain on sale of land $2\mathrm{.}1$

Proceeds from sale of land $6\mathrm{.}3$

Purchase of Company B common stock $132\mathrm{.}0$

Declaration of cash dividends $46\mathrm{.}0$

Distribution of cash dividends declared in Year $142\mathrm{.}0$

COTB Exercise $21-4($Algo$)$ Part $1$

Required:

$1.$ In Company A$$s statement of cash flows, what were net cash inflows $($or outflows$)$ from investing activities for Year $2?$

Note: Cash outflows should be indicated with a minus sign. Enter your answers in millions rounded to $1$ decimal place $($i$.$e$.,5,500,000$ should be entered as $5\mathrm{.}5).$