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! Required information [The following information applies to the questions displayed below.] ...

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Question

Accounting

!
Required information
[The following information applies to the questions displayed below.]
In preparation for developing its statement of cash flows for the year ended December 31,2024, Rapid Pac, Incorporated,
collected the following information:
($ in
millions)
Fair value of shares issued in a stock dividend
Payment for the early extinguishment of long-term bonds (book value: $81.0
$68.0
million)
Proceeds from the sale of treasury stock (cost: $17.0 million)
Gain on sale of land
Proceeds from sale of land
Purchase of Microsoft common stock
Declaration of cash dividends
86.0
Distribution of cash dividends declared in 2023
Required:
In Rapid Pac's statement of cash flows, what were net cash inflows (or outflows) from investing activities for 2024?
Note: Cash outflows should be indicated with a minus sign. Enter your answers in millions rounded to 1 decimal place (i.e.,
5,500,000 should be entered as 5.5).
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