Prepare and use the statement of cash flows
Response to the following problem:
During fiscal year 2014, Creative Cupcakes reported a net income of $112.4 million. Creative Cupcakes received $1.9 million from the sale of other businesses. Creative Cupcakes made capital expenditures of $8.5 million and sold property, plant, and equipment for $5.8 million. The company purchased long-term investments at a cost of $12.1 million and sold other long-term investments for $4.3 million.