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The following table presents selected items from the 2014 and 2013 balance sheets and 2014 income statement of Walgreen Company. WALGREEN CO. AND SUBSIDIARIES ($
The following table presents selected items from the 2014 and 2013 balance sheets and 2014 income statement of Walgreen Company.
WALGREEN CO. AND SUBSIDIARIES ($ millions) | |||||
---|---|---|---|---|---|
Selected Balance Sheet Data | Selected Income Statement Data | ||||
2014 | 2013 | 2014 | |||
Inventories | $16,088 | $14,756 | Cost of Merchandise Sold | $103,384 | |
Property and Equipment, Less | Depreciation Expense | 1,618 | |||
Accumulated Depreciation | 23,052 | 22,368 | |||
Trade Accounts Payable | 9,620 | 9,170 | Net Earnings | 5,428 | |
Retained Earnings | 37,754 | 33,696 |
a. | Compute the cash paid for merchandise inventories in 2014. Assume that trade accounts payable is only for merchandise purchases. | |
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b. | Compute the net cost of property acquired in 2014. | |
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c. | Compute the cash dividends paid in 2014. | |
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