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Gaston Corporation made sales of $900 million during 2021. Of this amount, Gaston collected cash for $630 million. The company's cost of goods sold
Gaston Corporation made sales of $900 million during 2021. Of this amount, Gaston collected cash for $630 million. The company's cost of goods sold was $320 million, and all other expenses for the year totaled $250 million. Also during 2021. Gaston paid $425 million for its inventory and $270 million for everything else. Beginning cash was $120 million. a. How much was Gaston's net income for 2021? b. How much was Gaston's cash balance at the end of 2021? a. How much was Gaston's net income for 2021? Net income for 2021 in millions =
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