Galaxy Interiors

2016 Income Statement

($ in millions)

Net sales $26,415

Cost of goods sold 19,908

Depreciation 2,611

Earnings before interest and taxes 3,896

Interest paid 1,982

Taxable Income $ 1,914

Less: Taxes 540

Net income $ 1,374

Galaxy Interiors

2015 and 2016 Balance Sheets

($ in millions)

2015 2016 2015 2016

Cash 718 397 Accounts payable 1,894 1,932

Accounts receivable 1,611 1,527 Notes payable 2,000 1300

Inventory 3,848 3,947 Total 3,894 3,232

Total 6,177 5,871 Long-term debt 10,000 10,650

Net fixed assets 17,489 18,107 Common stock 7,300 7,000

Retained earnings 2,472 3,096

Total assets 23,666 23,978 Total liab. & equity 23,666 23,978

Considering this information, what is the cash flow from assets for 2016?