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Use the following information to answer this question. Windswept, Inc. 2010 Income Statement ($ in millions) Net sales $ 10,200 Less: Cost of goods sold
Use the following information to answer this question. |
Windswept, Inc. 2010 Income Statement ($ in millions) | |
Net sales | $ 10,200 |
Less: Cost of goods sold | 7,800 |
Less: Depreciation | 355 |
Earnings before interest and taxes | $ 2,045 |
Less: Interest paid | 94 |
Taxable Income | $ 1,951 |
Less: Taxes | 585 |
Net income | $ 1,366 |
Windswept, Inc. 2009 and 2010 Balance Sheets ($ in millions) | |||||
2009 | 2010 | 2009 | 2010 | ||
Cash | $ 340 | $ 360 | Accounts payable | $ 1,820 | $ 1,680 |
Accounts rec. | 1,050 | 950 | Long-term debt | 1,040 | 1,500 |
Inventory | 1,820 | 1,740 | Common stock | $ 3,300 | $ 3,110 |
Total | $ 3,210 | $ 3,050 | Retained earnings | 620 | 870 |
Net fixed assets | 3,570 | 4,110 | |||
Total assets | $ 6,780 | $ 7,160 | Total liab. & equity | $ 6,780 | $ 7,160 |
What amount should be included in the financing section of the 2010 statement of cash flows for dividends paid? |
$1,006 million | |
$250 million | |
$745 million | |
$510 million | |
$1,116 million |
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