Problem - The following information is available from Bromfield Co.'s accounting records for the year ended December 31, 2016 (amounts in millions):
Cash dividends declared and paid 337
Interest and taxes paid 92
Collections from customers 1346
Payment of long-term debt 215
Purchase of land and buildings 158
Cash paid to suppliers and employees 823
Issuance of preferred stock 303
Proceeds from the sale of equipment 61
a. Calculate the net cash provided (used) by operating activities for Bromfield Co. for the year ended December 31, 2016.
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.