Question
6- (20 marks) Aussel Motors, Inc. 2018 statement of comprehensive income ($ in millions) Net sales $6,080 Less: Cost of goods sold 3,890 Less: Depreciation
6- (20 marks)
Aussel Motors, Inc. 2018 statement of comprehensive income ($ in millions) | |
Net sales | $6,080 |
Less: Cost of goods sold | 3,890 |
Less: Depreciation | 860 |
Earnings before interest and taxes | 1,330 |
Less: Interest paid | 270 |
Earnings before taxes | 1,060 |
Less: Taxes | 360 |
Net Income | 700 |
Aussel Motors, Inc. 2017 and 2018 statement of financial position ($ in millions) | ||||||
| 2017 | 2018 |
| 2017 | 2018 |
|
Cash | 415 | 560 | Accounts payable | 540 | 610 |
|
Accounts receivable | 860 | 840 | Current portion of LTD | 0 | 50 |
|
Inventory | 1,270 | 1,390 | Total | 540 | 660 |
|
Total | 2,545 | 2,790 | Long-term debt | 2165 | 3480 |
|
Net fixed assets | 3,180 | 4,660 | Common stock | 2000 | 2250 |
|
|
|
| Retained earnings | 1020 | 1060 |
|
Total assets | 5,725 | 7,450 | Total liab. & equity | 5725 | 7450 |
|
What is the amount of dividends paid in 2018 ($ in millions)? A. $40 B. $370 C. $410 D. $660 E. $700
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