N&M Corporation reported the following information for the current year: (1) Net

Question

N&M Corporation reported the following information for the current year: (1) Net income is $560 million. (2) Sales of plant assets $26 million. (3) Customer accounts receivable decreased by $14 million. (4) Repurchases of common stock were $20 million. (5) Depreciation expense was $38 million. (6) Income tax payable increased by $4 million. (7) Long-term debt decreased by $13 million. (8) Accounts payable increased by $9 million. (9) Inventories increased by $24 million. Required: Based on the above information, calculate the cash flow from financing activities.

Explanation / Answer

Cash flows from financing activities In million Repurchase of common stock $ (20) Decrease of long termd debt $ (13) Net cash used by financing activities $ (33)

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