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In preparation for developing its statement of cash flows for the year ended December 31, 2011, Millennium Solutions, Inc., collected the following information ($ in millions):Payment for the early extinguishments of long-term notes (book value: $50 million) $ 54
Sale of common shares .......................... 176Retirement of common shares ........................ 122Loss on sale of equipment ......................... 2Proceeds from sale of equipment ....................... 8Issuance of short-term note payable for cash .................. 10Acquisition of building for cash ...................... 7Purchase of marketable securities (not a cash equivalent) ............ 5Purchase of marketable securities (considered a cash equivalent) ......... 1Cash payment for 3-year insurance policy .................. 3 Collection of note receivable with interest (principal amount, $11) .......... 13Declaration of cash dividends ........................ 33Distribution of cash dividends declared in 2010 ................ 30
Required:
1. In Millennium's statement of cash flows, what were net cash inflows (or outflows) from investing activities for 2011?
2. In Millennium's statement of cash flows, what were net cash inflows (or outflows) from financing activities for 2011?
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