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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
Skip to question
[The following information applies to the questions displayed below.]
In preparation for developing its statement of cash flows for the year ended December 31, 2024, Rapid Pac, Incorporated, collected the following information:
($ in millions) | |
---|---|
Fair value of shares issued in a stock dividend | $ 52.0 |
Payment for the early extinguishment of long-term bonds (book value: $77.0 million) | 82.0 |
Proceeds from the sale of treasury stock (cost: $13.0 million) | 18.0 |
Gain on sale of land | 2.2 |
Proceeds from sale of land | 6.6 |
Purchase of Microsoft common stock | 134.0 |
Declaration of cash dividends | 47.0 |
Distribution of cash dividends declared in 2023 | 43.0 |
2. In Rapid Pacs statement of cash flows, what were net cash inflows (or outflows) from financing activities for 2024?
Note: Cash outflows 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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