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Western Country Corporation made sales of $725 million during 2014. Of this amount, Western Country collected cash for all but 531 million. The company's cost
Western Country Corporation made sales of $725 million during 2014. Of this amount, Western Country collected cash for all but 531 million. The company's cost of goods sold was $260 million, and all other expenses for the year totaled $275 million. Also during 2014, Western Country paid $430 million for its inventory and $300 million for everything else. Beginning cash was $85 million. Western Country's top management is interviewing you for a job and they ask two questions: a. How much was Western Country's net income for 2014? b. How much was Western Country's cash balance at the end of 2014? You will get the job only if you answer both questions correctly. (Enter all amounts in millions.) a. How much was Western Country's net income for 2014? Western Country's net income for 2014 is million
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