Footnotes During the year, the company received cash of $778 4 when it sold fixed assets with a net book value of $154 7, which gave rise to the $623 7 gain that appears on the income statement Total depreciation and amortization expenses of $1,377 3 is made up of depreciation expense of $1,213 5 and amortization expense of $163 8 Balance Sheet 2019 2018 Cash equivalents $2,686 6 $8,756 3 Marketable securities 70 5 181 5 Accounts receivable, net 879 2 693 1 Inventories 1,529 4 1,400 5 Other current assets 488 2 1,462 8 Total current assets 5,653 9 12,494 2 Property, plant, equipment, gross 14,273 5 13,197 1 Less Accumulated depreciation 7,841 8 7,268 0 Property, plant, equipment, net 6,431 7 5,929 1 Equity method investments 396 0 334 7 Other long term investments 220 0 267 7 Goodwill 3,490 8 3,541 6 Other intangible assets 781 8 1,042 2 Other noncurrent assets 2,245 4 546 9 Total assets $19,219 6 $24,156 4 Current portion of long term debt 0 0 349 9 Short term debt (notes payable) 0 0 0 0 Accounts payable 1,189 7 1,179 3 Taxes payable 1,291 7 102 8 Other accrued expenses 1,753 7 1,752 5 Deferred revenue 1,269 0 1,642 9 Other current liabilities 664 6 656 8 Total current liabilities 6,168 7 5,684 2 Long term debt 11,167 0 9,090 2 Deferred taxes 1,370 5 1,430 5 Other long term liabilities 6,744 4 6,775 7 Total liabilities 25,450 6 22,980 6 Preferred stock 0 0 0 0 Common stock and additional paid in capital 44 3 42 4 Retained earnings 13,646 1 10,751 5 Accumulated other comprehensive income (loss) (502 1) (330 3) Less Treasury stock 19,419 3 9,287 8 Total equity (6,231 0) 1,175 8 Total liabilities and equity $19,219 6 $24,156 4 Income 2019 Sales $26,508 6 Less Cost of goods sold 19,020 5 Gross profit 7,488 1 Less Selling, general, administrative expenses 2,195 1 Less Depreciation amortization expenses 1,377 3 Operating profit (EBIT) 3,915 7 Less Interest expense 331 0 Plus Interest income 131 3 Other nonoperating income (expense) (116 1) Income (loss) from equity method investments 298 0 Less Impairment of goodwill 50 8 Gain (loss) on sale of assets 623 7 Earnings before tax 4,470 8 Less Income tax expense 871 6 Net income $3,599 2 Prepare a complete Statement of Cash Flows that includes both the direct method and the indirect method f or summarizing cash flow from operating activities calculate items such as dividends paid (Retained Earnings AOCI 2019 Net income 2019 Retained Earnings AOCI 2018 Dividends paid 2019 ), capital expenditures made (Net Fixed Assets 2018 Book Value of Fixed Assets Sold 2019 Depreciation Expense 2019 Net Fixed Assets 2019 ), sales (purchases) of intangible assets (Intangible Assets 2018 Amortization of Intangible Assets 2019 Intangible Assets 2019 ), and sales (purchases) of equity method investments (Equity Method Investments 2018 Equity Income (Loss) 2019 Equity Method Investmenets 2019 )

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Footnotes During the year, the company received cash of $778.4 when it sold fixed assets with a net book value of $154.7, which gave rise

Footnotes During the year, the company received cash of $778.4 when it sold fixed assets with a net book value of $154.7, which gave rise to the $623.7 gain that appears on the income statement. Total depreciation and amortization expenses of $1,377.3 is made up of depreciation expense of $1,213.5 and amortization expense of $163.8.

Balance Sheet
	2019	2018
Cash & equivalents	$2,686.6	$8,756.3
Marketable securities	70.5	181.5
Accounts receivable, net	879.2	693.1
Inventories	1,529.4	1,400.5
Other current assets	488.2	1,462.8
Total current assets	5,653.9	12,494.2
Property, plant, & equipment, gross	14,273.5	13,197.1
Less: Accumulated depreciation	7,841.8	7,268.0
Property, plant, & equipment, net	6,431.7	5,929.1
Equity method investments	396.0	334.7
Other long-term investments	220.0	267.7
Goodwill	3,490.8	3,541.6
Other intangible assets	781.8	1,042.2
Other noncurrent assets	2,245.4	546.9
Total assets	$19,219.6	$24,156.4

Current portion of long-term debt	0.0	349.9
Short-term debt (notes payable)	0.0	0.0
Accounts payable	1,189.7	1,179.3
Taxes payable	1,291.7	102.8
Other accrued expenses	1,753.7	1,752.5
Deferred revenue	1,269.0	1,642.9
Other current liabilities	664.6	656.8
Total current liabilities	6,168.7	5,684.2
Long-term debt	11,167.0	9,090.2
Deferred taxes	1,370.5	1,430.5
Other long-term liabilities	6,744.4	6,775.7
Total liabilities	25,450.6	22,980.6
Preferred stock	0.0	0.0
Common stock and additional paid-in capital	44.3	42.4
Retained earnings	13,646.1	10,751.5
Accumulated other comprehensive income (loss)	(502.1)	(330.3)
Less: Treasury stock	19,419.3	9,287.8
Total equity	(6,231.0)	1,175.8
Total liabilities and equity	$19,219.6	$24,156.4

Income
	2019
Sales	$26,508.6
Less: Cost of goods sold	19,020.5
Gross profit	7,488.1
Less: Selling, general, & administrative expenses	2,195.1
Less: Depreciation & amortization expenses	1,377.3
Operating profit (EBIT)	3,915.7
Less: Interest expense	331.0
Plus: Interest income	131.3
Other nonoperating income (expense)	(116.1)
Income/(loss) from equity method investments	298.0
Less: Impairment of goodwill	50.8
Gain/(loss) on sale of assets	623.7
Earnings before tax	4,470.8
Less: Income tax expense	871.6
Net income	$3,599.2

- Prepare a complete Statement of Cash Flows that includes both the direct method and the indirect method for summarizing cash flow from operating activities.

- calculate items such as dividends paid (Retained Earnings & AOCI₂₀₁₉ Net income₂₀₁₉ Retained Earnings & AOCI₂₀₁₈ = Dividends paid₂₀₁₉), capital expenditures made (Net Fixed Assets₂₀₁₈ Book Value of Fixed Assets Sold₂₀₁₉ Depreciation Expense₂₀₁₉ Net Fixed Assets₂₀₁₉), sales (purchases) of intangible assets (Intangible Assets₂₀₁₈ Amortization of Intangible Assets₂₀₁₉ Intangible Assets₂₀₁₉), and sales (purchases) of equity method investments (Equity Method Investments₂₀₁₈ Equity Income/(Loss)₂₀₁₉ Equity Method Investmenets₂₀₁₉)