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Creative Sound Systems sold investments, land, and its own common stock for $33.0 million, $15.3 million, and $40.6 million, respectively. Creative Sound Systems also purchased treasury stock, equipment, and a patent for $21.3 million, $25.3 million, and $12.3 million, respectively. What amount should Creative Sound Systems report as net cash flows from financing activities? (Cash outflows should be indicated with a minus sign. Round your answers to 1 decimal place. Enter your answers in millions (i.e., $10,100,000 should be entered as 10.1).) CREATIVE SOUND SYSTEMS Statement of Cash Flows (partial) Cash flows from financing activities Sale of investments Sale of land Purchase equipment Purchase a patent Net cash flows from financing activities $ 33.0 15.3 (25.3) (12.3) $ 10.7

Creative Sound Systems sold investments, land, and its own common stock for $33.0 million, $15.3 million, and $40.6 million, respectively. Creative Sound Systems also purchased treasury stock, equipment, and a patent for $21.3 million, $25.3 million, and $12.3 million, respectively. What amount should Creative Sound Systems report as net cash flows from financing activities? (Cash outflows should be indicated with a minus sign. Round your answers to 1 decimal place. Enter your answers in millions (i.e., $10,100,000 should be entered as 10.1).) CREATIVE SOUND SYSTEMS Statement of Cash Flows (partial) Cash flows from financing activities Sale of investments Sale of land Purchase equipment Purchase a patent Net cash flows from financing activities $ 33.0 15.3 (25.3) (12.3) $ 10.7

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Creative Sound Systems sold investments, land, and its own common stock for $33.0 million, $15.3 million, and $40.6 million, respectively. Creative Sound Systems also purchased treasury stock, equipment, and a patent for $21.3 million, $25.3 million, and $12.3 million, respectively. What amount should Creative Sound Systems report as net cash flows from financing activities? (Cash outflows should be indicated with a minus sign. Round your answers to 1 decimal place. Enter your answers in millions (i.e., $10,100,000 should be entered as 10.1).) CREATIVE SOUND SYSTEMS Statement of Cash Flows (partial) Cash flows from financing activities Sale of investments Sale of land Purchase equipment Purchase a patent Net cash flows from financing activities $ 33.0 15.3 (25.3) (12.3) $ 10.7
Transcribed Image Text:Creative Sound Systems sold investments, land, and its own common stock for $33.0 million, $15.3 million, and $40.6 million, respectively. Creative Sound Systems also purchased treasury stock, equipment, and a patent for $21.3 million, $25.3 million, and $12.3 million, respectively. What amount should Creative Sound Systems report as net cash flows from financing activities? (Cash outflows should be indicated with a minus sign. Round your answers to 1 decimal place. Enter your answers in millions (i.e., $10,100,000 should be entered as 10.1).) CREATIVE SOUND SYSTEMS Statement of Cash Flows (partial) Cash flows from financing activities Sale of investments Sale of land Purchase equipment Purchase a patent Net cash flows from financing activities $ 33.0 15.3 (25.3) (12.3) $ 10.7
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