Question: On January 1 , 2 0 2 4 , Clor - Proell Enterprises bought 2 0 % of the outstanding common stock of Chen Construction

On January 1,2024, Clor-Proell Enterprises bought 20% of the outstanding common stock of Chen Construction Company for $500.0 million cash. Chens net income for the year ended December 31,2024, was $250.0 million. During 2024, Chen declared and paid cash dividends of $50.0 million. Clor-Proell recorded the investment as follows:
General Journal ($ in millions)
Debit Credit
PURCHASE
Investment in Chen Construction shares 500.0
Cash 500.0
NET INCOME
Investment in Chen Construction shares (20%\times $250.0 million)50.0
Investment revenue 50.0
DIVIDENDS
Cash (20%\times $50.0 million)10.0
Investment in Chen Construction shares 10.0
Required:
What would be the pretax amounts related to the investment that Clor-Proell would report in its statement of cash flows for the year ended December 31,2024?
Note: Enter your answers in millions rounded to 1 decimal place (i.e.,5,500,000 should be entered as 5.5). Cash outflows should be indicated with a minus sign.

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