Nabors, Inc.

2019 Income Statement

($ 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

Dividends paid to shareholders $ 275

Nabors, Inc.

2018 and 2019 Balance Sheets

($ in millions)

2018 2019 2018 2019

Cash $310 $405 Accounts payable $ 2,720 $ 2,570

Accounts Rec. 2,640 3,055 Notes payable 100 0

Inventory 3,275 3,850 Total Current Liabilities $ 2,820 $ 2,570

Total Current Assets $ 6,225 $ 7,310

Long-term debt 7,875 8,100

Net fixed assets 10,960 10,670

Common stock (Paid up capital) 5,000 5,250

Retained earnings 1,490 2,060

Total Common Equity 6,490 7,310

Total assets $17,185 $17,980 Total liabilities & equity $17,185 $17,980

What is the Cash Flow to Stockholders for 2019?

What is the ROA (Return on Assets) for 2019)?