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3636 Brief Exercise 11-11 Calculate net cash flows from financing activities (LO11-5) Creative Sound Systems sold investments, land, and its own common stock for
3636 Brief Exercise 11-11 Calculate net cash flows from financing activities (LO11-5) Creative Sound Systems sold investments, land, and its own common stock for $40.0 million, $14.0 million, and $38.0 million, respectively. Creative Sound Systems also purchased treasury stock, equipment, and a patent for $20.0 million, $24.0 million, and $11.0 million, respectively. What amount should Creative Sound Systems report as net cash flows from financing activities? (List cash outflows and any decrease in cash as negative amounts. Round your answers to 1 decimal place. Enter your answers in millions (i.e., $10,100,000 should be entered as 10.1).) CREATIVE SOUND SYSTEMS Statement of Cash Flows (partial) Cash flows from financing activities Sale of land Sale of investments Purchase equipment Purchase a patent Net cash flows from financing activities $ 14.0 40.0 (24.0) (11.0) $ 19.0
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