Selected information from Large Corporation\'s accounting records and financial

Question

Selected information from Large Corporation's accounting records and financial statements for 2016 is as follows ($ in millions):

Cash paid to acquire a patent $46

Treasury stock purchased for cash 43

Proceeds from sale of land and buildings 72

Gain from the sale of land and buildings 44

Investment revenue received 14

Cash paid to acquire office equipment 67

Large prepares its financial statements in accordance with IFRS. In its statement of cash flows, Large most likely reports net cash outflows from investing activities of:

Explanation / Answer

Prepare the statemnt of cash flow from investing activity.

Cash flow from Investing Activity Cash Inflow Proceeds from sale of land and Building 72 Investment revenue received 14 86 Less: Cash used Cash paid to acquire a patent -46 Cash paid to acquire the office equipment -67 -113 Net cash flow -27

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