Required information Skip to question [The following information applies to the questions displayed below.] In preparation for developing its statement of cash flows for the year ended December 31, 2024, Rapid Pac, Incorporated, collected the following information: ($ in millions) Fair value of shares issued in a stock dividend $ 104.0 Payment for the early extinguishment of long-term bonds (book value: $90.0 million) 95.0 Proceeds from the sale of treasury stock (cost: $26.0 million) 31.0 Gain on sale of land 3.5 Proceeds from sale of land 10.5 Purchase of Microsoft common stock 160.0 Declaration of cash dividends 60.0 Distribution of cash dividends declared in 2023 57.0 Required: 1. In Rapid Pac’s statement of cash flows, what were net cash inflows (or outflows) from investing activities for 2024? Note: Cash outflows should be indicated with a minus sign. Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).

Required information Skip to question [The following information applies to the questions displayed below.] In preparation for developing its statement of cash flows for the year ended December 31, 2024, Rapid Pac, Incorporated, collected the following information: ($ in millions) Fair value of shares issued in a stock dividend $ 104.0 Payment for the early extinguishment of long-term bonds (book value: $90.0 million) 95.0 Proceeds from the sale of treasury stock (cost: $26.0 million) 31.0 Gain on sale of land 3.5 Proceeds from sale of land 10.5 Purchase of Microsoft common stock 160.0 Declaration of cash dividends 60.0 Distribution of cash dividends declared in 2023 57.0 Required: 1. In Rapid Pac’s statement of cash flows, what were net cash inflows (or outflows) from investing activities for 2024? Note: Cash outflows should be indicated with a minus sign. Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter16: Statement Of Cash Flows: Another Look

Section: Chapter Questions

Problem 10P

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Required information

Skip to question

[The following information applies to the questions displayed below.]

In preparation for developing its statement of cash flows for the year ended December 31, 2024, Rapid Pac, Incorporated, collected the following information:

	($ in millions)
Fair value of shares issued in a stock dividend	$ 104.0
Payment for the early extinguishment of long-term bonds (book value: $90.0 million)	95.0
Proceeds from the sale of treasury stock (cost: $26.0 million)	31.0
Gain on sale of land	3.5
Proceeds from sale of land	10.5
Purchase of Microsoft common stock	160.0
Declaration of cash dividends	60.0
Distribution of cash dividends declared in 2023	57.0

Required:

1. In Rapid Pac’s statement of cash flows, what were net cash inflows (or outflows) from investing activities for 2024?

Note: Cash outflows should be indicated with a minus sign. Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).

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