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Exercise 21-13 (Algo) Identifying cash flows from investing activities and financing activities [LO21-5, 21-6] Skip to question [The following information applies to the questions displayed
Exercise 21-13 (Algo) Identifying cash flows from investing activities and financing activities [LO21-5, 21-6]
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[The following information applies to the questions displayed below.]
In preparation for developing its statement of cash flows for the year ended December 31, 2024, Rapid Pac, Incorporated, collected the following information:
($ in millions) | |
---|---|
Fair value of shares issued in a stock dividend | $ 112.0 |
Payment for the early extinguishment of long-term bonds (book value: $92.0 million) | 97.0 |
Proceeds from the sale of treasury stock (cost: $28.0 million) | 33.0 |
Gain on sale of land | 3.7 |
Proceeds from sale of land | 11.1 |
Purchase of Microsoft common stock | 164.0 |
Declaration of cash dividends | 62.0 |
Distribution of cash dividends declared in 2023 | 59.0 |
\begin{tabular}{|l|l|} \hline Cash Flows from Financing Activities: & (\$ in millions) \\ \hline & \\ \hline & \\ \hline & \\ \hline Net cash inflows (outflows) from financing activities & \\ \hline \end{tabular}
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