Jimmy lean should report net cash outflows

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Reference no: EM132203526

Selected information from Jimmy Lean Hotdog Corporation's accounting records and financial statements for 2006 is as follows (amounts in millions):

Cash paid to acquire equipment $18

Treasury stock purchased for cash 25

Proceeds from sale of land and buildings 45

Gain from the sale of land and buildings 26

Investment revenue received 33

Cash paid to acquire office equipment 40

On its statement of cash flows, Jimmy Lean should report net cash outflows from investing activities of:

A) $13 Million

B) $23 Million

C) $38 Million

D) $39 Million

Reference no: EM132203526

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