Question
In preparation for developing its statement of cash flows for the year just ended, Meisenhelder Distributors collected the following information: ($ in millions) Purchase of
In preparation for developing its statement of cash flows for the year just ended, Meisenhelder Distributors collected the following information:
($ in millions)
Purchase of treasury bills (considered a cash equivalent)
6
Sale of preferred stock
150
Gain on sale of land
4
Proceeds from sale of land
25
Issuance of bonds payable for cash
140
Purchase of equipment for cash
30
Purchase of GE stock
35
Declaration of cash dividends
134
Payment of cash dividends declared in previous year
130
Purchase of treasury stock
120
Payment for the early extinguishment of long-term notes (carrying (book) value: $100 million)
110
Required:
Prepare the investing and financing activities section of Meisenhelder's Statement of Cash Flows.
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