Selected information about Sam 'n' Ella's Chicken Delight, a chain of hot new restaurants, follows. ($ in millions) 2007 2008 Net sales $296 $304 Cost of goods sold 168 223 Depreciation 51 61 Net income 32 45 Finished goods inventory 34 29 Accounts receivable 47 87 Accounts payable 39 44 Net fixed assets 404 482 Year-end cash balance $185 $123

a. During 2008 how much cash did Sam 'n' Ella's collect from sales?

b. During 2008 what was the cost of goods produced by the company?

c. Assuming the company neither sold nor salvaged any assets during the year, what were the company's capital expenditures during 2008?

d. Assuming that there were no financing cash flows during 2008 and basing your answer solely on the information provided, what were the cash flows from operations for 2008?

AppendixLO1