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Nabors, Inc. 2018 statement of comprehensive income ($ in millions) Net sales $9,610 Less: Cost of goods sold 6,310 Less: Depreciation 1,370 Earnings before interest
Nabors, Inc. 2018 statement of comprehensive income ($ in millions) Net sales $9,610 Less: Cost of goods sold 6,310 Less: Depreciation 1,370 Earnings before interest and 1,930 taxes Less: Interest paid 630 Taxable Income $1,300 Less: Taxes 455 Net income $845 Nabors, Inc. 2017 and 2018 Statement of financial positions ($ in millions) 2017 2018 2017 2018 Cash $310 $405 Accounts $2,720 $2,570 payable Accounts 2,640 3,055 Notes 100 0 rec. payable 3,275 3,850 Total $2,820 $2,570 Total $6,225 $7,310 Long-term 7,875) 8,100 debt Net fixed 100unl Inventory rec. Inventory Total $2,820 7,875 $2,570 8,100 5,000 5,250 payable 3,275 3,850 Total $6,225 $7,310 Long-term debt 10,960 10,670 Common stock Retained earnings $17,185 $17,980 Total liab. & equity Net fixed assets 1,490 2,060 Total assets $17,185 $17,980 What is the amount of net new borrowing for 2018 ($ in millions)? $0 -$25 -$225 $25 $225
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