In Preparation for Developing Its Statement of Cash Flows for the Year

Essay

In preparation for developing its statement of cash flows for the year just ended, D-Rose Distributors collected the following information: $$\begin{array} { | l | l | } \hline & \begin{array} { l } \text { \$ in } \\\text { millions) }\end{array} \\\hline \text { Purchase of treasury bills (considered a cash equivalent) } & 6 \\\hline \text { Sale of preferred stock } & 150 \\\hline \text { Gain on sale of land } & 4 \\\hline \text { Proceeds from sale of land } & 25 \\\hline \text { Issuance of bonds payable for cash } & 140 \\\hline \text { Purchase of equipment for cash } & 30 \\\hline \text { Purchase of GE stock } & 35 \\\hline \text { Declaration of cash dividends } & 134 \\\hline \text { Payment of cash dividends declared in previous year } & 130 \\\hline \text { Purchase of treasury stock } & 120 \\\hline \text { Payment for the early extinguishment of long-term notes (carrying (book) } & \\\text { value: \$100 million) } & 110 \\\hline\end{array}$$ Required:
1. Prepare the investing activities section of D-Rose's statement of cash flows.
2. Prepare the financing activities section of D-Rose's statement of cash flows.