course web.pitt.ed Take Test: HW2... 2167 ECON 11 QUESTION 17 Hilltop Industries 2007 Income Statement in millions) Net sales $11,407 Less: Cost of goods sold 7,871 Less: Depreciation 509 Earnings before interest and taxes 2,027 Less: Interest paid 210 Taxable Income 1,817 Less: Taxes 636 1,181 Net income Hilltop Industries 2006 and 2007 Balance Sheets (S in millions) 2006 2007 2006 2007 Accounts payable $1,818 $1,719 Cash 276 316 Accounts rec 1,415 1,068 Notes payable 250 75 2,104 2,690 Total $2,068 $1,794 Inventory Total 3,400 3,100 $3,795 $4,074 Long-term deb Net fixed assets 5,613 6,342 Common stock 2,500 3,250 Retained earnings 1,440 2,272 Total liab & equity $0,408 $10,416 Total assets $9,408 $10,416 What is the amount of net new borrowing for 2007? $540 $300 $0 $300 $540 QUESTION 18 My Pitt H 2167 ECON 02 gb fri flashcards Q 5 points Sa 5 points Sa