During fiscal year 2016, Ellis Bakery reported a net income of $130.7 million. Ellis Bakery received
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During fiscal year 2016, Ellis Bakery reported a net income of $130.7 million. Ellis Bakery received $1.4 million from the sale of other businesses. Ellis Bakery made capital expenditures of $10.6 million and sold property, plant, and equipment for $7.5 million. The company purchased long-term investments at a cost of $12.1 million and sold other long-term investments for $3.1 million. Requirement Prepare the investing activities section of Ellis Bakery s statement of cash flows. Based solely on Ellis Bakery s investing activities, does it appear that the company is growing or shrinking? How can you tell?
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