Creative Sound Systems sold investments, land, and its own common stock for $33

Question

Creative Sound Systems sold investments, land, and its own common stock for $33 million, $15.3 million, and $40.6 million, respectively. Creative Sound Systems also purchased treasury stock, equipment, and a patent for $21.3 million, $25.3 million, and $12.3 illion, respectively. What amount should Creative Sound Systems report as net cash flows from financing activities? (List cash outflows and any decrease in cash as negative amounts. Enter your answer in millions. (i.e., $10,000,000 should be entered as 10).) Answer is complete but not entirely correct. CREATIVE SOUND SYSTEMS Statement of Cash Flows (partial) Cash flows from financing activities $ 33.0 (15.3) Sale of investments Sale of land Issuance of common stock Purchase treasury stock Purchase equipment Purchase a patent 40.6C (25.3) (12.3) Net cash flows from financing

Explanation / Answer

Cash flow from financing activities :

Cash flow from financing activities Sold common stock 40.60 Purchase treasury stock (21.30) Net cash flow from financing activities 19.30

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