Creative Sound Systems sold investments, land, and its own common stock for $39

Question

Creative Sound Systems sold investments, land, and its own common stock for $39 million, $14.1 million, and $38.2 million, respectively. Creative Sound Systems also purchased treasury stock, equipment, and a patent for $20.1 million, $24.1 million, and $11.1 million, respectively 6 1 What amount should Creative Sound Systems report as net cash flows from financing activities? (List cash outflows and any decrease in cash as negative amounts. Enter your answer in millions. (i.e., $10,000,000 should be entered as 10).) CREATIVE SOUND SYSTEMS Statement of Cash Flows (partial) Cash flows from financing activities Net cash flows from financing activities 0.0

Explanation / Answer

Answer:-

CREATIVE SOUND SYSTEMS Statement of partial cash flows Particulars Amount $ In millions Cash flows from Financing Activities Issuance of common stock 38.2 Purchase treasury stock -20.1 Net cash flow from Financing actvities 18.1

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