N&M Corporation reported the following information for the current year: (1) Net

Question

N&M Corporation reported the following information for the current year:

          (1)     Net income is $560 million.

          (2)     Sales of plant assets $26 million.

          (3)     Customer accounts receivable decreased by $14 million.

          (4)     Repurchases of common stock were $20 million.

          (5)     Depreciation expense was $38 million.

          (6)     Income tax payable increased by $4 million.

          (7)     Long-term debt decreased by $13 million.

          (8)     Accounts payable increased by $9 million.

          (9)     Inventories increased by $24 million.

Required: Based on the above information, calculate the cash flow from investing activities.

Explanation / Answer

Cash flows from financing activities In million Decrease of long term debt $ (13) Repurchase of common stock $ (20) Net cash used by financing activities $ (33)

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