Question: In preparation for developing its statement of cash flows for the year just ended, D-Rose Distributors collected the following information: ($ in millions) Purchase of
In preparation for developing its statement of cash flows for the year just ended, D-Rose Distributors collected the following information:
| ($ in millions) | |
| Purchase of treasury bills (considered a cash equivalent) | 6.1 |
| Sale of preferred stock | 150.1 |
| Gain on sale of land | 4.1 |
| Proceeds from sale of land | 25.1 |
| Issuance of bonds payable for cash | 140.1 |
| Purchase of equipment for cash | 30.1 |
| Purchase of GE stock | 35.1 |
| Declaration of cash dividends | 134.1 |
| Payment of cash dividends declared in previous year | 130.1 |
| Purchase of treasury stock | 120.1 |
| Payment for the early extinguishment of | |
| long-term notes (carrying (book) value: $100 million) | 110.1 |
Required:
1. In D-Rose’s statement of cash flows, what were net cash inflows (or outflows) from investing activities?
2. In D-Rose’s statement of cash flows, what were net cash inflows (or outflows) from financing activities?
Step by Step Solution
3.37 Rating (156 Votes )
There are 3 Steps involved in it
1 Cash flow from investing activites in million Purchase of treasury bills 61 sale o... View full answer
Get step-by-step solutions from verified subject matter experts
