Read the Google Income Statement and Balance Sheet found on 483 and 485 in your book, and answer the following questions? 1) Look at the Income Statement- is the com 2) What was their total income for the year? What were there total expenses for the year? 3) Look at the Balance Sheet what is the total amount of their Current Assets? pany making a profit or are they losing money? What is the total amount of the companies liabilities? Google, Inc. Summary of Income Statement (condensed) as of December 31, 2014 (in millions) Revenues (gross sales) $66,001 Cost of revenues Gross profit Operating expenses: 25,691 $40,310 Research development 9,832 13,982 Selling, administrative and general Total operating expenses $23,814 Operating income (before taxes) Income taxes* Net income $16,496 2,052 $14,444 *approximated Google, Inc. Summary of Statement of Cash Flows (condensed) as of December 31, 2014 Increase (Decrease) in Cash (in millions) Net cash provided by operating activities Cash from investments: $22,376 Cash inflows from investment activities Net cash used in investing activities Cash flows from financing activities: Repayment of debt 35,225. ($21,055.) (11,643.) 11,625 (1,421.) Borrowings Other Net cash provided by financing activities Net increase in cash Cash at beginning of year Cash at end of year ($1 ,439.) (551.) 18,347 $18,347