B) In preparation for developing its statement of cash flows for the year ended December 31, 2014, Tim Taylor Company collected the following information:

($ in millions)

Payment for the early extinguishment of long-term notes

(book value $100 million) $107

Sale of common shares 325

Retirement of common shares 214

Loss on sale of equipment 4

Proceeds from sale of equipment 16

Issuance of short-term note payable for cash 18

Acquisition of building for cash 17

Purchase of marketable securities (not a cash equivalent) 10

Purchase of marketable securities (considered a cash equivalent) 2

Cash payment for 3-year insurance policy 6

Collection of note receivable with interest (principal amount, $23) 26

Declaration of cash dividends 66

Distribution of cash dividends declared in 2013 58

Required:

1. In Taylor's statement of cash flows, what were net cash inflows (or outflows) from investing activities for 2014?

2. In Taylors statement of cash flows, what were net cash inflows (or outflows) from financing activities for 2014?