11) The following information ($ in millions) comes from a recent annual report of Orinoco.com, Incorporated:

Net sales$ 10,713Total assets4,553End of year balance in cash1,022Total stockholders' equity472Gross profit (Sales Cost of Sales)2,584Net increase in cash for the year12Operating expenses2,059Net operating cash flow623Other income (expense), net(18)

Compute Orinoco's cost of goods sold for the year.

12) Tri Fecta, a partnership, had revenues of $377,000 in its first year of operations. The partnership has not collected on $45,500 of its sales and still owes $38,500 on $165,000 of merchandise it purchased. There was no inventory on hand at the end of the year. The partnership paid $34,900 in salaries. The partners invested $49,000 in the business and $21,000 was borrowed on a five-year note. The partnership paid $2,100 in interest that was the amount owed for the year and paid $9,000 for a two-year insurance policy on the first day of business. Ignore income taxes.

Compute the cash balance at the end of the first year for Tri Fecta.