KU Rapid Pac Cash Flows from Investing and Financing Exercises
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Exercise 21-13 (Algo) Identifying cash flows from investing activities and financing activities [LO21-5, 21-6]
[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 | $ 56.0 |
| Payment for the early extinguishment of long-term bonds (book value: $78.0 million) | 83.0 |
| Proceeds from the sale of treasury stock (cost: $14.0 million) | 19.0 |
| Gain on sale of land | 2.3 |
| Proceeds from sale of land | 6.9 |
| Purchase of Microsoft common stock | 136.0 |
| Declaration of cash dividends | 48.0 |
| Distribution of cash dividends declared in 2023 | 44.0 |
Exercise 21-13 (Algo) Part 2
2. In Rapid Pac’s statement of cash flows, what were net cash inflows (or outflows) from financing 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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