21.1 hw 3 - 1. Award: 26.66 out of 33.33

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1.Award: 26.66 out of 33.33 pointsIn preparation for developing its statement of cash flows for the year ended December 31, 2016, Rapid Pac,Inc., collected the following information:($ in millions)Fair value of shares issued in a stock dividend$ 60.0Payment for the early extinguishment oflong­term bonds (book value: $79.0 million)84.0Proceeds from the sale of treasury stock (cost: $15.0 million)20.0Gain on sale of land2.4Proceeds from sale of land7.2Purchase of Microsoft common stock138.0Declaration of cash dividends49.0Distribution of cash dividends declared in 201545.0Required:1.In Rapid Pac’s statement of cash flows, what were net cash inflows (or outflows) from investing activitiesfor 2016?(Amounts to be deducted should be indicated with a minus sign. Enter your answers inmillions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).)

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Term
Spring
Professor
Dugan
Tags
Accounting, Homework, Chapter 21, Statement of Cash Flows, Learnsmart, Ac 310, 15 0 Million, 20 0, 60 0 84 0 20 0 2 4 7 2 138 0 49 0 45 0, 79 0 million

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