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Nabors, Inc. 2008 Income Statment ($ in millions) Net sales $9,610 Less: Cost of goods sold $6,310 Less: Depreciation $1,370 Earnings before interest and taxes

Nabors, Inc.

2008 Income Statment ($ in millions)

Net sales $9,610
Less: Cost of goods sold $6,310
Less: Depreciation $1,370
Earnings before interest and taxes $1,930
Less: Interest paid $ 630
Taxable Income $1,300
Less: Taxes $ 455
Net income $ 845

Nabors, Inc.

2007 & 2008 Balance Sheets ($ in millions)

2007 2008
Cash $ 310 $ 405
Accounts rec. $ 2,640 $ 3,055
Inventory $ 3,275 $ 3,850
Total $ 6,225 $ 7,310
Net fixed assets $10,960 $10,670
Total assets $17,185 $17,980

2007 2008
Accounts payable $ 2,720 $ 2,570
Notes payable $ 100 $ 0
Total $ 2,820 $ 2,570
Long-term debt $ 7,875 $ 8,100
Common stock $ 5,000 $ 5,250
Retained earnings $ 1,490 $ 2,060
Total liab. & equity $17,185 $17,980

Question: What is the cash flow of the firm for 2008?

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