Question: 1. Engineering Wonders reports net income of $60 million. Included in that number is building depreciation expense of $5 million and a gain on the sale of land of $1 million. Records reveal decreases in accounts receivable, accounts payable, and inventory of $2 million, $3 million, and $4 million, respectively. What are Engineering Wonders' net cash flows from operating activities?
2. Creative Sound Systems sold investments, land, and its own common stock for $30 million, $15 million, and $40 million, respectively. Creative Sound Systems also purchased treasury stock, equipment, and a patent for $21 million, $25 million, and $12 million, respectively. What amount should the company report as net cash flows from investing activities?