Reference no: EM132498798

In preparation for developing its statement of cash flows for the year just ended, Meisenhelder Distributors collected the following information:

($ in millions)

Purchase of treasury bills (considered a cash equivalent) 6

Sale of preferred stock 150

Gain on sale of land 4

Proceeds from sale of land 25

Issuance of bonds payable for cash 140

Purchase of equipment for cash 30

Purchase of GE stock 35

Declaration of cash dividends 134

Payment of cash dividends declared in previous year 130

Purchase of treasury stock 120

Payment for the early extinguishment of long-term notes (carrying (book) value: $100 million) 110

Required:

Question 1: Prepare the investing and financing activities section of Meisenhelder's statement of cash flows.