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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, 2016 (amounts in millions):

Cash dividends declared and paid $ 336
Interest and taxes paid 102
Collections from customers 1,333
Payment of long-term debt 212
Purchase of land and buildings 158
Cash paid to suppliers and employees 819
Issuance of preferred stock 303
Proceeds from the sale of equipment 54

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))

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))

c. Calculate the net cash provided (used) by financing activities. (Enter your answer in millions. (i.e., 5,000,000 should be entered as 5))

d. Calculate the net increase (decrease) in cash for the year. (Enter your answer in millions. (i.e., 5,000,000 should be entered as 5))

Solutions

Expert Solution

a. Cash provided (used) by operating activities:

$ in millions
Collections from customers 1333
Cash paid to suppliers and employees -819
Interest and taxes paid -102
Cash provided (used) by operating activities 412

b. net cash provided (used) by investing activities:

$ in millions
Purchase of land and buildings (158)
Proceeds from sale of equipment 54
net cash provided (used) by investing activities (104)

c.

$ in millions
Cash dividends declared and paid (336)
Payment of long term debt (212)
Issuance of preferred stock 303
net cash provided (used) by financing activities (245)

d. net increase (decrease) in cash for the year

$ in millions
Cash provided (used) by operating activities 412
net cash provided (used) by investing activities (104)
net cash provided (used) by financing activities (245)
net increase (decrease) in cash for the year 63

ekkarill92 answered 2 years ago
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