S7-14. (Learning Objective 7: Reporting investing activities on the statement of cash flows) During 20X6, Orion Satellite
Question:
S7-14. (Learning Objective 7: Reporting investing activities on the statement of cash flows) During 20X6, Orion Satellite Systems, Inc., purchased two other companies for
$18 million. Also during 20X6, Orion made capital expenditures of $8 million to expand its market share. During the year, Orion sold its North American operations, receiving cash of
$16 million. Overall, Orion reported a net income of $3 million during 20X6.
Show what Orion would report for cash flows from investing activities on its statement of cash flows for 20X6. Report a total amount for net cash provided by (used in) investing activities.
Step by Step Answer:
Financial Accounting International Financial Reporting Standards Global Edition
ISBN: 9781292211145
11th Edition
Authors: Charles T. Horngren, C. William Thomas, Wendy M. Tietz, Themin Suwardy, Walter T. Harrison