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The following information is available from Gray Co.'s accounting records for the year ended December 31, 2016 (amounts in millions): Cash dividends declared and paid
The following information is available from Gray Co.'s accounting records for the year ended December 31, 2016 (amounts in millions):
Cash dividends declared and paid | $ | 525 | |
Retirement of bonds payable at maturity | 300 | ||
Interest and taxes paid | 220 | ||
Proceeds of common stock issued | 825 | ||
Proceeds from the sale of land | 250 | ||
Collections from customers | 4,720 | ||
Cash paid to suppliers and employees | ? | ||
Purchase of buildings and equipment | ? | ||
Required:
a. The net cash provided by operating activities for Gray Co. for the year ended December 31, 2016, is $1,800 million. Calculate the cash paid to suppliers and employees. (Enter your answer in millions. (i.e., 5,000,000 should be entered as 5))
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