Business
Business, 19.05.2020 18:09, rakanmadi87

In preparation for developing its statement of cash flows for the year ended December 31, 2018, Millennium Solutions, Inc. collected the following information: ($ in millions) Payment for the early extinguishment of long-term notes (book value: $100 million) $ 108.7 Sale of common shares 352.7 Retirement of common shares 244.7 Loss on sale of equipment 4.7 Proceeds from sale of equipment 16.7 Issuance of short-term note payable for cash 20.7 Acquisition of building for cash 14.7 Purchase of marketable securities (not a cash equivalent) 10.7 Purchase of marketable securities (considered a cash equivalent) 2.7 Cash payment for 3-year insurance policy 6.7 Collection of note receivable with interest (principal amount, $22) 26.7 Declaration of cash dividends 66.7 Distribution of cash dividends declared in 2017 60.7 Required: 1. Prepare the investing activities section of Millennium's statement of cash flows for 2018. 2. Prepare the financing activities section of Millennium's statement of cash flows for 2018.

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

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