Creative Sound Systems sold investments, land, and its own common stock for $36

Question

Creative Sound Systems sold investments, land, and its own common stock for $36 million, $15.6 million, and $41.2 million, respectively. Creative Sound Systems also purchased treasury stock, equipment, and a patent for $21.6 million, $25.6 million, and $12.6 million, respectively.

What amount should Creative Sound Systems report as net cash flows from financing activities? (Enter your answers in millions. List cash outflows as negative amounts. Round your answers to 1 decimal place.)

Creative Sound Systems sold investments, land, and its own common stock for $36 million, $15.6 million, and $41.2 million, respectively. Creative Sound Systems also purchased treasury stock, equipment, and a patent for $21.6 million, $25.6 million, and $12.6 million, respectively.

Explanation / Answer

Financing Activities
+ common stock $36 million
- purchased treasury stock $21.6 million
= $14.4 million cash flow from financing activities

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