During 20X4, the following items were reported on The Mickey Company's statement of cash flows in millions of dollars. For each item, identify the type of activity it is (operating, investing, financing) and the effect it would have on cash flows (added or deducted). (in millions $) $$\begin{array} { | l | r | }
\hline \text { Equity in the income of investees } & \$ 372 \
\hline \text { Proceeds from the sale of investments } & 14 \
\hline \text { Purchases of investments } & 67 \
\hline
\end{array}$$

Question

During 20X4, the following items were reported on The Mickey Company's statement of cash flows in millions of dollars. For each item, identify the type of activity it is (operating, investing, financing) and the effect it would have on cash flows (added or deducted). (in millions $) $$\begin{array} { | l | r | } 
\hline \text { Equity in the income of investees } & \$ 372 \
\hline \text { Proceeds from the sale of investments } & 14 \
\hline \text { Purchases of investments } & 67 \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of During 20X4, the following items were reported on The Mickey Company's statement of cash flows in millions of dollars. For each item, identify the type of activity it is (operating, investing, financing) and the effect it would have on cash flows (added or deducted). (in millions $) $$\begin{array} { | l | r | } 
\hline \text { Equity in the income of investees } & \$ 372 \
\hline \text { Proceeds from the sale of investments } & 14 \
\hline \text { Purchases of investments } & 67 \
\hline
\end{array}$$

During 20X4, the Following Items Were Reported on the Mickey