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The following information is available from Gray Co.'s accounting records for the year ended December 31, 2013 (amounts in millions): Cash dividends declared and paid

The following information is available from Gray Co.'s accounting records for the year ended December 31, 2013 (amounts in millions):

Cash dividends declared and paid $ 71
Retirement of bonds payable at maturity 39
Interest and taxes paid 38
Proceeds of common stock issued 110
Proceeds from the sale of land 21
Collections from customers 630
Cash paid to suppliers and employees ?
Purchase of buildings and equipment ?
Required:
a.

The net cash provided by operating activities for Gray Co. for the year ended December 31, 2013, is $253 million. Calculate the cash paid to suppliers and employees.(Enter your answer in millions. (i.e., 5,000,000 should be entered as 5))

cash paid to suppliers and employees: _________ million
b.

The increase in cash for the year was $36 million. Calculate the amount of cash used to purchase buildings and equipment. Your answer to partashould be considered in your calculation.(Hint: Set up a model of the statement of cash flows to determine the net cash provided [used] by operating and investing activities, and then solve for the missing amounts.)(Enter your answer in millions. (i.e., 5,000,000 should be entered as 5))

cash used to purchase buildings and equipment: _________ million

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