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Net sales $10,711 Total assets 4,363 End of year balance in cash 1,022 Total stockholders' equity 431 Gross profit 2,456 Net increase in cash for

Net sales

$10,711

Total assets

4,363

End of year balance in cash

1,022

Total stockholders' equity

431

Gross profit

2,456

Net increase in cash for the year

9

Operating expenses

2,067

Net operating cash flow

702

Other income (expense), net

(12)

The above information ($ in millions) comes from a recent annual report of Ardvark, Inc.:

Required:

  1. Compute Ardvark's total liabilities at the end of the year.
  2. Compute Ardvark's cost of goods sold for the year.
  3. Compute the income before income tax for Ardvark.

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