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St. Pierre Inc. made sales of $900 million during 2020. Of this amount, St. Pierre Inc. collected cash for all but $26 million. The company's
St. Pierre Inc. made sales of $900 million during 2020. Of this amount, St. Pierre Inc. collected cash for all but $26 million. The company's cost of goods sold was $280 million, and all other expenses for the year totalled $400 million. Also during 2020, St. Pierre Inc. paid $375 million for its inventory and $255 million for everything else. Beginning cash was $80 million. St. Pierre Inc.'s top management is interviewing you for a job and they ask two questions: a. How much was St. Pierre Inc.'s net income for 2020? b. How much was St. Pierre Inc.'s cash balance at the end of 2020? a. How much was St. Pierre Inc.'s net income for 2020? St. Pierre's net income for 2020 is $ million. b. How much was St. Pierre Inc.'s cash balance at the end of 2020? St. Pierre's cash balance at the end of 2020 is $0 million
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