Use the information provided to answer the questions regarding Nabors, Inc.

Quiz 2 part 1 (10 points). Using the following income statement and balance sheet prepare the financial statement of cash flow (format it on the next page) and submit it via dropbex by 01/28/2018 Nabors, Inc. 2011 Income Statement (S in millions) $9,610 6,310 Net sales Less: Cost of goods sold Less: Depreciation Earnings before interest and taxes Less: Interest paid Taxable Income Less: Taxes Net income 370 1,930 $1,300 $ 845 Nabors, Inc 2010 and 2011 Balance Sheets (S in millions) 2010 2011 2011 S 310 S 405 2,640 3,055 2010 Accounts payable Notes payable S 2,720 S 2,570 Cash Accounts ree. Inventory Total Net fixed assets 3,2753.850 Total S6225 S 7310Long-term debt 7,875 5,000 -490 8,100 5,250 ,060 S17.980 0960-10670 Common stock Retained earnings Total asset S17,185 S17,980 Total liab.& equity S17185 Note: Retained carnings.is listed as a separate line item in this balance sheet (where as retained earnings were part of common stock in the balance sheet before)