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Income Statement (in millions) Sales COGS 2018 $12,000 2019 $15,000 (7,200) (8,000) SG&A (700) (1,000) Depreciation (1,200) (1,500) Interest expense (1,300) (1,200) Taxes (tax rate
Income Statement (in millions) Sales COGS 2018 $12,000 2019 $15,000 (7,200) (8,000) SG&A (700) (1,000) Depreciation (1,200) (1,500) Interest expense (1,300) (1,200) Taxes (tax rate = 40%) (640) (1,320) Net income $960 $1,980 Balance Sheet (in millions) December 31, December 31, 2018 2019 Cash and marketable securities $2,000 $2,200 Accounts receivable 3,000 3,500 Inventory 4,000 4,200 Total current assets $9,000 $9,900 PP&E, gross $22,000 $24,300 Accumulated depreciation (9,000) (10,500) PP&E, net $13,000 $13,800 Total assets $22,000 $23,700 Accounts payable $2,400 $2,640 Short-term debt 1,600 1,760 Total current liabilities $4,000 $4,400 Long-term debt $15,000 $15,004 Total liabilities $19,000 $19,404 Common stock $2,000 $2,300 Retained earnings 1,000 1,996 Total equity $3,000 $4,296 Total liabilities and equity $22,000 $23,700 1. Based on the information provided, the company collected $ million [1] from its customers in 2019; 2. Besides, the company paid $ million [2] to its suppliers in 2019
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