Cash flows from operating, investing, and financing activities-direct method The following information is available from Bromfield Co.'s accounting records for the year ended December 31, 2010 (amounts in millions):
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Cash dividends declared and paid.
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$ 340
|
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Interest and taxes paid
|
90
|
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Collections from customers
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1,350
|
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Payment of long-term debt
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220
|
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Purchase of land and buildings
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170
|
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Cash paid to suppliers and employees
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810
|
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Issuance of preferred stock
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300
|
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Proceeds from the sale of equipment
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40
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Required:
a. Calculate the net cash provided (used) by operating activities for Bromfield Co. for the year ended December 31, 2010.
b. Calculate the net cash provided (used) by investing activities.
c. Calculate the net cash provided (used) by financing activities.
d. Calculate the net increase (decrease) in cash for the year.