PLEASE SHOW STEP BY STEP SOLUTIONS. I NEED TO UNDERSTAND HOW YOU GOT BOTH ANSWERS

Carter Corporation made sales of $900 million during 2014. Of thisamount, Carter collected cash for all but $27 million. Thecompany's cost of goods sold was $290million, and all other expenses for the year totaled $375 million. Also during 2014, Carter paid $375 million for its inventory and $255 million for everything else. Beginning cash was $70 million. Carter's top management is interviewing you for a job and they ask twoquestions:

a. How much was Carter's net income for 2014?

b. How much was Carter's cash balance at the end of 2014?

You will get the job only if you answer both questions correctly. (Enter all amounts inmillions.)