Business, 05.05.2020 05:22 sanafarghal

Exercise 21-14 (Algo) Identifying cash flows from investing activities and financing activities [LO21-5, 21-6][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:($ in millions)Payment for the early extinguishments oflong-term notes (book value: $65.0 million) $ 69.0Sale of common shares 212.0Retirement of common shares 131.0Loss on sale of equipment 2.9Proceeds from sale of equipment 11.6Issuance of short-term note payable for cash 19.0Acquisition of building for cash 11.5Purchase of marketable securities (not a cash equivalent) 14.0Purchase of marketable securities (considered a cash equivalent) 10.0Cash payment for 3-year insurance policy 12.0Collection of note receivable with interest (principal amount, $20) 22.0Declaration of cash dividends 50.0Distribution of cash dividends declared in 2020 47.0Exercise 21-14 (Algo) Part 1Required:1. In Millennium’s statement of cash flows, what were net cash inflows (or outflows) from investing activities for 2021?

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Exercise 21-14 (Algo) Identifying cash flows from investing activities and financing activities [LO2...

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