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 the company report as net cash flows from investing activities? (Enter your answers in millions rounded to one decimal places. List cash outflows as negative amounts.)

Prepare a balance sheet of statement of cash flows.

Explanation / Answer

Cash flow from investing activity;

Sale of investment $36 million

Sale of land $15.6 million

Purchase of equipment - $ 25.6 million

Purchase of patent. - $12.6 million

Net cash flow from investing activity $13.4 million

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