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.

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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