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.

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Related Book For  book-img-for-question

Accounting What the Numbers Mean

ISBN: 978-1260565492

12th edition

Authors: David Marshall, Wayne McManus, Daniel Viele

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