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Southeast Corporation made sales of $825 million during 2014. Of this amount, Southeast collected cash for all but $23 million. The company's cost of goods
Southeast Corporation made sales of $825 million during 2014. Of this amount, Southeast collected cash for all but $23 million. The company's cost of goods sold was S255 million, and all other expenses for the year totaled $250 million. Also during 2014, Southeast paid $425 million for its inventory and $250 million for everything else. Beginning cash was $85 million. Southeast's top management is interviewing you for a job and they ask two questions: a. How much was Southeast's net income for 2014? b. How much was Southeast's cash balance at the end of 2014? You will get the job only if you answer both questions correctly. (Enter all amounts in millions.) a. How much was Southeast's net income for 2014? milion. Southeast's net income for 2014 is $
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