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Reconciling Changes in Balance Sheet Accounts The following table presents selected items from the Year 2 and Year 1 balance sheets and Year 2 income

Reconciling Changes in Balance Sheet Accounts

The following table presents selected items from the Year 2 and Year 1 balance sheets and Year 2 income statement of Walgreen Company.

WALGREEN CO. AND SUBSIDIARIES ($ millions)
Selected Balance Sheet Data Selected Income Statement Data
Year 2 Year 1 Year 2
Inventories $24,132 $22,134 Cost of Merchandise Sold $155,076
Property and Equipment, Less Depreciation Expense 2,427
Accumulated Depreciation 34,578 33,552
Trade Accounts Payable 14,430 13,755 Net Earnings 8,142
Retained Earnings 56,631 50,544

a. Compute the cash paid for merchandise inventories in Year 2. Assume that trade accounts payable is only for merchandise purchases.

$Answer

million

b. Compute the net cost of property acquired in Year 2.

$Answer

million

c. Compute the cash dividends paid in Year 2.

$Answer

million

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