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On July 15,2021 , M.W. Morgan Distribution sold land for $32.0 million that it had purchased in 2016 for $27.0 million. Required: What would be
On July 15,2021 , M.W. Morgan Distribution sold land for $32.0 million that it had purchased in 2016 for $27.0 million. Required: What would be the amount(s) related to the sale that Morgan would report in its statement of cash flows for the year ended December 31,2021 , using the direct method? The indirect method? Complete this question by entering your answers in the tabs below. What would be the amount(s) related to the sale that Morgan would report in its statement of cash flow: December 31, 2021, using the indirect method? (List any cash outflows with a minus sign. Enter your ar rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) On July 15,2021 , M.W. Morgan Distribution sold land for $32.0 million that it had purchased in 2016 for $27.0 million. Required: What would be the amount(s) related to the sale that Morgan would report in its statement of cash flows for the year ended December 31, 2021, using the direct method? The indirect method? Complete this question by entering your answers in the tabs below. What would be the amount(s) related to the sale that Morgan would report in its statement of cash flow December 31, 2021, using the direct method? (List any cash outflows with a minus sign. Enter your ans rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) On January 1, 2021, the Merit Group issued to its bank a $60 million, five-year installment note to be paid in five equal payments at the end of each year. Installment payments of $14.244 million annually include interest at the rate of 6.0%. Required: What would be the amount(s) related to the note that Merit would report in its statement of cash flows for the year ended December 31, 2021? (List each cash flow separately. List any cash outflows with a minus sign. Enter your answers in millions rounded to 2 decimal places (i.e., 5,500,000 should be entered as 5.50)
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