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 | $ | 329 | |
Interest and taxes paid | 68 | ||
Collections from customers | 1,332 | ||
Payment of long-term debt | 212 | ||
Purchase of land and buildings | 160 | ||
Cash paid to suppliers and employees | 835 | ||
Issuance of preferred stock | 311 | ||
Proceeds from the sale of equipment | 53 | ||
Required:
Solution:
Bromfield Co | ||
Statement of Cash Flows | ||
For year ended 2019 | ||
Particulars | Details | Amount (In millions) |
Cash Flow from Operating Activities: | ||
Collection from customers | $1,332.00 | |
Cash paid to suppliers and employees | -$835.00 | |
Interest and taxes paid | -$68.00 | |
Net Cash provided by operating activities | $429.00 | |
Cash Flow from Investing Activities: | ||
Purchase of land and buildings | -$160.00 | |
Proceed from sale of equipment | $53.00 | |
Net Cash Provided by Investing activities | -$107.00 | |
Cash Flow from Financing Activities: | ||
Dividend Paid | -$329.00 | |
Payment of long term debt | -$212.00 | |
Issuance of preferred stock | $311.00 | |
Net Cash used in financing activities | -$230.00 | |
Net Increase / (Decrease) in Cash | $92.00 |
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