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The following information is available from Gray Co s accounting records for the year ended December 312016 amounts in millions Cash dividends declared and paid

The following information is available from Gray Co s accounting records for the year ended December 31, 2016 (amounts in millions): Cash dividends declared and paid.................................... $ 525 Retirement of bonds payable at maturity............................. 300 Interest and taxes paid.................................................. 220 Proceeds of common stock issued.................................... 825 Proceeds from the sale of land......................................... 250 Collections from customers............................................. 4,720 Cash pad to suppliers and employees................................. ? Purchase of buildings and equipment................................. ? Required: a. The net cash provided by operating activities for Gray Co. for the year ended December 31, 2016. is $1200 million. Calculate the cash paid to suppliers and employees. b. The increase in cash for the year was $400 million. Calculate the amount of cash used to purchase buildings and equipment. Your answer to part a should be considered in your calculation. (Set up a model of the statement of cash flows to determine the net cash provided used) by operating and investing activities, and then solve for the missing amounts.)

Apr 11 2020 View more View Less

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