In preparation for developing its statement of cash flows for the year ended December 31, 2018,...

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In preparation for developing its statement of cash flows forthe year ended December 31, 2018, Millennium Solutions, Inc.collected the following information: ($ in millions) Payment forthe early extinguishments of long-term notes (book value: $77.0million) $ 81.0 Sale of common shares 228.0 Retirement of commonshares 135.0 Loss on sale of equipment 3.3 Proceeds from sale ofequipment 13.2 Issuance of short-term note payable for cash 23.0Acquisition of building for cash 13.5 Purchase of marketablesecurities (not a cash equivalent) 18.0 Purchase of marketablesecurities (considered a cash equivalent) 14.0 Cash payment for3-year insurance policy 16.0 Collection of note receivable withinterest (principal amount, $24) 26.0 Declaration of cash dividends58.0 Distribution of cash dividends declared in 2017 55.0 Required:1. In Millennium’s statement of cash flows, what were net cashinflows (or outflows) from investing activities for 2018? 2. InMillennium’s statement of cash flows, what were net cash inflows(or outflows) from financing activities for 2018?
($ in millions)
Cash Flows From InvestingActivities:
Net cash inflows (outflows)from investing activities
($ in millions)
Cash Flows from FinancingActivities:
Net cash inflows (outflows)from financing activities

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Solution in millions Cash Flows From Investing Activities Proceeds from sale of equipment 132 Acquisition of building for cash 135 Purchase of marketable securities not a cash equivalent 180 Collection of note See Answer

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In preparation for developing its statement of cash flows forthe year ended December 31, 2018, Millennium Solutions, Inc.collected the following information: ($ in millions) Payment forthe early extinguishments of long-term notes (book value: $77.0million) $ 81.0 Sale of common shares 228.0 Retirement of commonshares 135.0 Loss on sale of equipment 3.3 Proceeds from sale ofequipment 13.2 Issuance of short-term note payable for cash 23.0Acquisition of building for cash 13.5 Purchase of marketablesecurities (not a cash equivalent) 18.0 Purchase of marketablesecurities (considered a cash equivalent) 14.0 Cash payment for3-year insurance policy 16.0 Collection of note receivable withinterest (principal amount, $24) 26.0 Declaration of cash dividends58.0 Distribution of cash dividends declared in 2017 55.0 Required:1. In Millennium’s statement of cash flows, what were net cashinflows (or outflows) from investing activities for 2018? 2. InMillennium’s statement of cash flows, what were net cash inflows(or outflows) from financing activities for 2018?($ in millions)Cash Flows From InvestingActivities:Net cash inflows (outflows)from investing activities($ in millions)Cash Flows from FinancingActivities:Net cash inflows (outflows)from financing activities