The following information is available from Bromfield Co.s accounting records for the year ended December 31, 2019
Question:
The following information is available from Bromfield Co.’s accounting records for the year ended December 31, 2019 (amounts in millions):
Cash dividends declared and paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,020
Interest and taxes paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 270
Collections from customers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,050
Payment of long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 660
Purchase of land and buildings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 510
Cash paid to suppliers and employees . . . . . . . . . . . . . . . . . . . . . . . 2,430
Issuance of preferred stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 900
Proceeds from the sale of equipment . . . . . . . . . . . . . . . . . . . . . . . . . 120
Required:
a. Calculate the net cash provided (used) by operating activities for Bromfield Co. for the year ended December 31, 2019.
b. Calculate the net cash provided (used) by investing activities.
c. Calculate the net cash provided (used) by financing activities.
d. Calculate the net increase (decrease) in cash for the year.
Step by Step Answer:
Accounting What the Numbers Mean
ISBN: 978-1260565492
12th edition
Authors: David Marshall, Wayne McManus, Daniel Viele