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The following information pertains to Galaxy Interiors: Galaxy Interiors 2015 Income Statement ($ in millions) Net sales $ 21,415 Cost of goods sold 16,408 Depreciation
The following information pertains to Galaxy Interiors:
Galaxy Interiors | |
2015 Income Statement | |
($ in millions) | |
Net sales | $ 21,415 |
Cost of goods sold | 16,408 |
Depreciation | 1,611 |
Earnings before interest and taxes | $ 3,396 |
Interest paid | 1,282 |
Taxable Income | $ 2,114 |
Less: Taxes | 740 |
Net income | $ 1,374 |
Galaxy Interiors | |||||
2014 and 2015 Balance Sheets | |||||
($ in millions) | |||||
2014 | 2015 | 2014 | 2015 | ||
Cash | $ 668 | $ 297 | Accounts payable | $ 1,694 | $ 1,532 |
Accounts receivable | 1,611 | 1,527 | Notes payable | 2,500 | 0 |
Inventory | 3,848 | 2,947 | Total | $ 4,194 | $ 1,532 |
Total | $ 6,127 | $ 4,771 | Long-term debt | 9,800 | 10,650 |
Net fixed assets | 17,489 | 17,107 | Common stock | 7,500 | 7,000 |
Retaining earnings | 2,122 | 2,696 | |||
Total assets | $ 23,616 | $ 21,878 | Total liab. & equity | $ 23,616 | $ 21,878 |
What is the amount of dividends paid for 2015? |
Multiple Choice
800 |
$1,948 |
$0 |
$574 |
$1,374 |
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