Use the following information to prepare the cash flow statement in 2008 of Nabors, Inc. Calculate FCE Nabors, Inc. 2007 and 2008 Balance Sheets (S in millions) 2007 2008 S 310 S 405 2,640 3,055 S 2.570 Cash Accounts rec. Inventory Total Net fixed assets Accounts payable 2.720 Notes payable 27S-LASO Total 56225 S 7310L Losco?am Long-term debt common stock 7875 8100 5,000 5250 Retained earnings 1490 206 Total assets S17185 S17.9 Total liab.& equity S17,185 S17.980 Nabers, Inc. 2008 Income Statement (S in millions) $9,610 6.310 Net sales Less: Cost of goods sold Less: Depreciation Earnings before interest and taxes 1930 Less: Interest paid Taxable Income Less: Taxes Net income S1300 S 845 Cash Flow Statement Partial Solution Cash at the beginning of the year 310 net income Xxx plus depreciationX + AR Xxx +Inventory -APXx 1075 Cash from investment (NFA+depreciation) 1080 +- (long term debt+notes payable x +/-common stock X dividendX 100 405