Exercise 21-16 Equity method investment; statement of cash flow effects [LO21-3, 21-5]

On January 1, 2016, Beilich Enterprises bought 20% of the outstanding common stock of Wolfe Construction Company for $640.0 million cash. Wolfes net income for the year ended December 31, 2016, was $320.0 million. During 2016, Wolfe declared and paid cash dividends of $64.0 million. Beilich recorded the investment as follows:

	($ in millions)
Purchase
Investment in Wolfe Construction shares	640.0
Cash		640.0
Net income
Investment in Wolfe Construction shares (20% $320.0 million)	64.0
Investment revenue		64.0
Dividends
Cash (20% $64.0 million)	12.8
Investment in Wolfe Construction shares		12.8

Required:

What would be the pretax amounts related to the investment that Beilich would report in its statement of cash flows for the year ended December 31, 2016? (Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5). Cash outflows should be indicated by a minus sign.)

1 Operating activities

2 Investing activities

3 Finacing activities