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Required information Skip to question [The following information applies to the questions displayed below.] In preparation for developing its statement of cash flows for the

Required information

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[The following information applies to the questions displayed below.]

In preparation for developing its statement of cash flows for the year ended December 31, 2021, Millennium Solutions, Inc. collected the following information:

($ in millions)
Payment for the early extinguishments of long-term notes (book value: $53.0 million) $ 57.0
Sale of common shares 196.0
Retirement of common shares 127.0
Loss on sale of equipment 2.5
Proceeds from sale of equipment 10.0
Issuance of short-term note payable for cash 15.0
Acquisition of building for cash 9.5
Purchase of marketable securities (not a cash equivalent) 10.0
Purchase of marketable securities (considered a cash equivalent) 6.0
Cash payment for 3-year insurance policy 8.0
Collection of note receivable with interest (principal amount, $16) 18.0
Declaration of cash dividends 42.0
Distribution of cash dividends declared in 2020 39.0

Required: 1. In Millenniums statement of cash flows, what were net cash inflows (or outflows) from investing 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).)

image text in transcribed

2. In Millenniums 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).)

image text in transcribed \begin{tabular}{|l|l|} \hline & (\$ in millions) \\ \hline Cash Flows From Investing Activities: & \\ \hline Acquisition of building for cash & \\ \hline Collection of note receivable & \\ \hline Proceeds from sale of equipment & \\ \hline Purchase of marketable securities & \\ \hline Acquisition of building for cash & $ \\ \hline Acquisition of building for cash & $0.0 \\ \hline Net cash inflows (outflows) from investing activities & \\ \hline \end{tabular}

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