Business, 24.05.2021 22:40 bellpreslee7115

In preparation for developing its statement of cash flows for the year ended December 31, 2016, Millennium Solutions, Inc., collected the following information ($ in millions): Payment for the early extinguishments of
long-term notes (book value: $50 million) $54
Sale of common shares176
Retirement of common share122
Loss on sale of equipment 2
Proceeds from sale of equipment 8
Issuance of short-term note payable for cash 10
Acquisition of building for cash 7
Purchase of marketable securities (not a cash equivalent) 5
Purchase of marketable securities (considered a cash equivalent)1
Cash payment for 3-year insurance policy3
Collection of note receivable with interest (principal amount, $11)13
Declaration of cash dividends 33
Distribution of cash dividends declared in 2015 30
Required:
1. In Millennium’s statement of cash flows, what were net cash inflows (or outflows) from investing activities
for 2016?
2. In Millennium’s statement of cash flows, what were net cash inflows (or outflows) from financing activities
for 2016?

Answers: 1

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In preparation for developing its statement of cash flows for the year ended December 31, 2016, Mill...