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 .......................... 176
Retirement of common shares ........................ 122
Loss on sale of equipment ......................... 2
Proceeds from sale of equipment ....................... 8
Issuance of short-term note payable for cash .................. 10
Acquisition of building for cash ...................... 7
Purchase of marketable securities (not a cash equivalent) ............ 5
Purchase of marketable securities (considered a cash equivalent) ......... 1
Cash payment for 3-year insurance policy .................. 3
Collection of note receivable with interest (principal amount, $11) .......... 13
Declaration of cash dividends ........................ 33
Distribution 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?