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Brief Exercise 11-8 Calculate net cash flows from investing activities (L011-4) Creative Sound Systems sold investments, land, and its own common stock for $35.0 million,
Brief Exercise 11-8 Calculate net cash flows from investing activities (L011-4) Creative Sound Systems sold investments, land, and its own common stock for $35.0 million, $14.5 million, and $39.0 million, respectively. Creative Sound Systems also purchased treasury stock, equipment, and a patent for $20.5 million, $24.5 million, and $11.5 million, respectively. What amount should the company report as net cash flows from investing 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).) X Answer is complete but not entirely correct. CREATIVE SOUND SYSTEMS Statement of Cash Flows (partial) Cash flows from investing activities Sale of investments $ 35,000,000.0 X Sale of land 14,500,000.0 X Purchase equipment 39,000,000.0 X Purchase a patent (20,500,000.0) X Net cash flows from investing activities $ 68,000,000.0
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