Porter\'s 5 Forces Investopedia Chegg Study | Guided Solutions and Study Help I
ID: 2339473 • Letter: P
Question
Porter's 5 Forces Investopedia Chegg Study | Guided Solutions and Study Help I Cheg.. The following information is available from Bromfield Co.'s accounting records for the year ended December 31, 2016 (amounts in millions) 334 83 Cash dividends declared and paid Interest and taxes paid Collections from customers Payment of long-term debt Purchase of land and buildings Cash paid to suppliers and employees Issuance of preferred stock Proceeds from the sale of equipment 1,341 199 154 810 322 45 Required a. Calculate the net cash provided (used) by operating activities for Bromfield Co. for the year ended December 31, 2016. (Enter your answer in millions. (i.e., 5,000,000 should be entered as 5)) Net cash provided byifor operating activiti million om b. Calculate the net cash provided (used) by investing activities(Enter your answer in millions. (i.e., 5,000,000 should be entered as 5))Explanation / Answer
Operating activities Collection from customers 1341 Cash paid to suppliers and employees -810 Interest and taxes paid -83 a Net cash provided by operating activities 448 Investing activities Purchase of land and building -154 Proceeds from sale of equipment 45 b Net cash used by investing actvities -109 Financing activities Cash dividend declared and paid -334 Payment of long term debt -199 Issuance of preferred stock 322 c Net cash used in financing activities -211 d Net increase in the cash of the year 128