Answered step by step
Verified Expert Solution
Question
1 Approved Answer
! Required information [The following information applies to the questions displayed below.] In preparation for developing its statement of cash flows for the year
! Required information [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: Payment for the early extinguishments of long-term notes (book value: $86.0 million) Sale of common shares Retirement of common shares Loss on sale of equipment Proceeds from sale of equipment Issuance of short-term note payable for cash Acquisition of building for cash Purchase of marketable securities (not a cash equivalent) Purchase of marketable securities (considered a cash equivalent) Cash payment for 3-year insurance policy Collection of note receivable with interest (principal amount, $27) Declaration of cash dividends Distribution of cash dividends declared in 2020 ($ in millions) $ 90.0 240.0 138.0 3.6 14.4 26.0 15.0 21.0 17.0 19.0 29.0 64.0 61.0 Required: 1. In Millennium's 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).) Cash Flows From Investing Activities: Net cash inflows (outflows) from investing activities ($ in millions)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started