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Cash flows from operating, investing, and financing activities-direct method The following information is available from Bromfield Co.'s accounting records for the year ended December 31, 2010 (amounts in millions):
Cash dividends declared and paid.
$ 340
Interest and taxes paid
90
Collections from customers
1,350
Payment of long-term debt
220
Purchase of land and buildings
170
Cash paid to suppliers and employees
810
Issuance of preferred stock
300
Proceeds from the sale of equipment
40
Required:
a. Calculate the net cash provided (used) by operating activities for Bromfield Co. for the year ended December 31, 2010.
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.
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