Question
Galaxy Interiors 2016 Income Statement ($ in millions) Net sales $26,415 Cost of goods sold 19,908 Depreciation 2,111 Earnings before interest and taxes 4,396 Interest
Galaxy Interiors
2016 Income Statement
($ in millions)
Net sales $26,415
Cost of goods sold 19,908
Depreciation 2,111
Earnings before interest and taxes 4,396
Interest paid 2,282
Taxable Income $ 2,114
Less: Taxes 740
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 2,500 1300
Inventory 3,848 3,947 Total 4,394 3,232
Total 6,177 5,871 Long-term debt 9,800 10,650
Net fixed assets 17,489 18,107 Common stock 7,500 7,000
Retained earnings 1,972 3,096
Total assets 23,666 23,978 Total liab. & equity 23,666 23,978
Considering this information, what is the cash flow to stockholders for 2016?
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