Question

The following information is available from Bromfield Co.’s accounting records for the year ended December 31,...

The following information is available from Bromfield Co.’s accounting records for the year ended December 31, 2019 (amounts in millions):

Cash dividends declared and paid $ 339
Interest and taxes paid 105
Collections from customers 1,339
Payment of long-term debt 218
Purchase of land and buildings 166
Cash paid to suppliers and employees 832
Issuance of preferred stock 311
Proceeds from the sale of equipment 52


Required:

  1. Calculate the net cash provided (used) by operating activities for Bromfield Co. for the year ended December 31, 2019.
  2. Calculate the net cash provided (used) by investing activities.
  3. Calculate the net cash provided (used) by financing activities.
  4. Calculate the net increase (decrease) in cash for the year.

(For all requirements, enter your answer in millions. (i.e., 5,000,000 should be entered as 5))


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Answer #1
Cash flows from Operating Activities
Interest and Taxes paid ($105)
Collections from Customers $1339
Cash paid to Suppliers and Employees ($832)
Net cash provided by Operating activities $402
Cash flows from Investing Activities
Purchase of Land and Buildings ($166)
Proceeds from Sale of Equipment $52
Net Cash used by Investing Activities ($114)
Cash flows from Financing Activities
Cash dividends declared and paid ($339)
Payment of Long term Debt ($218)
Issuance of Preferred Stock $311
Net Cash Used by Financing Activities ($246)
Net Increase of Cash During the year $42
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