The following information is available from Bromfield Co.s accounting records for the year ended December 31, 2010

Question:

The following information is available from Bromfield Co.’s accounting records for the year ended December 31, 2010 (amounts in millions):
Cash dividends declared and paid. . . . . . . . . . . . . . . . . . . . . . . . . $ 340
Interest and taxes paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 90
Collections from customers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,350
Payment of long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 220
Purchase of land and buildings . . . . . . . . . . . . . . . . . . . . . . . . . . . 170
Cash paid to suppliers and employees . . . . . . . . . . . . . . . . . . . . . 810
Issuance of preferred stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 300
Proceeds from the sale of equipment . . . . . . . . . . . . . . . . . . . . . . 40

Required:
a. Calculate the net cash provided (used) by operating activities for Bromfield Co. for the year ended December 31, 2010.
b. Calculate the net cash provided (used) by investing activities.
c. Calculate the net cash provided (used) by financing activities.
d. Calculate the net increase (decrease) in cash for the year.

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Related Book For  book-img-for-question

Accounting What the Numbers Mean

ISBN: 978-0073527062

9th Edition

Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele,

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