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Use the following information to answer this question. Windswept, Inc. 2010 Income Statement ($ in millions) Net sales $ 10,400 Less: Cost of goods sold
Use the following information to answer this question. |
Windswept, Inc. 2010 Income Statement ($ in millions) | |
Net sales | $ 10,400 |
Less: Cost of goods sold | 7,900 |
Less: Depreciation | 365 |
Earnings before interest and taxes | $ 2,135 |
Less: Interest paid | 98 |
Taxable Income | $ 2,037 |
Less: Taxes | 611 |
Net income | $ 1,426 |
Windswept, Inc. 2009 and 2010 Balance Sheets ($ in millions) | |||||
2009 | 2010 | 2009 | 2010 | ||
Cash | $ 360 | $ 380 | Accounts payable | $ 1,880 | $ 1,760 |
Accounts rec. | 1,090 | 990 | Long-term debt | 1,060 | 1,520 |
Inventory | 1,860 | 1,760 | Common stock | $ 3,340 | $ 3,130 |
Total | $ 3,310 | $ 3,130 | Retained earnings | 640 | 890 |
Net fixed assets | 3,610 | 4,170 | |||
Total assets | $ 6,920 | $ 7,300 | Total liab. & equity | $ 6,920 | $ 7,300 |
What amount should be included in the financing section of the 2010 statement of cash flows for dividends paid? |
$510 million
$765 million
$1,046 million
$1,176 million
$250 million
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