In preparation for developing its statement of cash flows for the year ended December 31, 2018, Millennium Solutions, Inc. collected the following information: ($ in millions) Payment for the early ext inguishment of long-term notes (book value: $100 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, $22) Declaration of cash dividends Distribution of cash dividends declared in 2017 $109.4 353.4 245.4 5.4 17.4 21.4 15.4 11.4 3.4 7.4 27.4 67.4 61.4 Required: 1. Prepare the investing activities section of Millennium's statement of cash flows for 2018. 2. Prepare the financing activities section of Millennium's statement of cash flows for 2018. (For all requirements, list any cash outflow with a minus sign. Enter your answer in millions rounded to 1 decimal place (l.e 5,500,000 should be entered as 5.5).) milion 1. million 2.

In preparation for developing its statement of cash flows for the year ended December 31, 2018, Millennium Solutions, Inc. collected the following information: ($ in millions) Payment for the early ext inguishment of long-term notes (book value: $100 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, $22) Declaration of cash dividends Distribution of cash dividends declared in 2017 $109.4 353.4 245.4 5.4 17.4 21.4 15.4 11.4 3.4 7.4 27.4 67.4 61.4 Required: 1. Prepare the investing activities section of Millennium's statement of cash flows for 2018. 2. Prepare the financing activities section of Millennium's statement of cash flows for 2018. (For all requirements, list any cash outflow with a minus sign. Enter your answer in millions rounded to 1 decimal place (l.e 5,500,000 should be entered as 5.5).) milion 1. million 2.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 32BE

See similar textbooks

Similar questions

Use the following excerpts from Fromera Companys financial information to prepare the operating section of the statement of cash flows (direct method) for the year 2018.
Use the following excerpts from Unigen Companys financial information to prepare the operating section of the statement of cash flows (indirect method) for the year 2018.
Use the following information from Dubuque Companys financial statements to prepare the operating activities section of the statement of cash flows (indirect method) for the year 2018.
Use the following information from Berlin Companys financial statements to prepare the operating activities section of the statement of cash flows (indirect method) for the year 2018.
Use the following excerpts from Tungsten Companys financial information to prepare a statement of cash flows (indirect method) for the year 2018.
Use the following information from Honolulu Companys financial statements to prepare the operating activities section of the statement of cash flows (indirect method) for the year 2018.
Use the following information from Birch Companys balance sheets to determine net cash flows from operating activities (indirect method), assuming net income for 2018 of $122,000.
Use the following excerpts from Mountain Companys financial information to prepare a statement of cash flows (indirect method) for the year 2018.
Use the following excerpts from Stern Companys financial information to prepare a statement of cash flows (indirect method) for the year 2018.
Preparing a Statement of Cash Flows Volusia Company reported the following comparative balance sheets for 2019: Required: Prepare a statement of cash flows for Volusia using the indirect method to compute net cash flow from operating activities.
Use the following excerpts from Swahilia Companys financial information to prepare a statement of cash flows (direct method) for the year 2018.
Mahoney Company has the following financial statements for 2017 and 2018. Assume that the purchase of equipment and the withdrawals were in the form of cash. Required Prepare a statement of cash flows for the year ended December 31, 2018. Check Figure Net cash flows from operating activities, 76,800