Exercise 21-13 (Algo) Identifying cash flows from investing activities and financing activities [LO21-5, 21-6]

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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}