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$3.806 Woodlands Inc. 2015 Income Statement ($ in millions) Total operating revenues Cost of goods sold 2,315 Selling, general, and administrative expenses 546 Depreciation 311

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$3.806 Woodlands Inc. 2015 Income Statement ($ in millions) Total operating revenues Cost of goods sold 2,315 Selling, general, and administrative expenses 546 Depreciation 311 Earnings before interest and taxes (EBIT) Interest expense $634 170 Pretax income Taxes $464 162 $302 Net income 75 Dividends 2015 2014 $ 686$ 613 Assets Cash and equivalents Accounts receivable Inventory Net property & equipment Intangible assets Woodlands Inc. Balance Sheet ($ in millions) 2015 2014 Liabilities and Stockholders' Equity $ 503 $ 227 Accounts payable 418 522 Long-term debt 1,239 1,187 Common stock 2.290 2,264 Capital surplus 360 360 Retained earnings 1,3001,350 1,5001,500 745 745 579 352 Total assets 4810 $4,560 Total liabilities & stockholders' equity$4,810*4,560 14. Refer to Woodlands Inc, financial statements listed above. What is the amount of the net capital spending for 2015

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