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In preparation for developing its statement of cash flows for the year ended December 31, 2021, Rapid Pac, Inc., collected the following information: ($ in
In preparation for developing its statement of cash flows for the year ended December 31, 2021, Rapid Pac, Inc., collected the following information:
($ in millions) | |||
Fair value of shares issued in a stock dividend | $ | 116.0 | |
Payment for the early extinguishment of long-term bonds (book value: $93.0 million) | 98.0 | ||
Proceeds from the sale of treasury stock (cost: $29.0 million) | 34.0 | ||
Gain on sale of land | 3.8 | ||
Proceeds from sale of land | 11.4 | ||
Purchase of Microsoft common stock | 166.0 | ||
Declaration of cash dividends | 63.0 | ||
Distribution of cash dividends declared in 2020 | 60.0 | ||
2. In Rapid Pacs statement of cash flows, what were net cash inflows (or outflows) from financing activities for 2021? (Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).)
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