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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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