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Windswept, Inc. 2010 Income Statement ($ in millions) Net sales $9,200 Less: Cost of goods sold 7,390 Less: Depreciation 305 Earnings before interest and taxes
Windswept, Inc. 2010 Income Statement ($ in millions) Net sales $9,200 Less: Cost of goods sold 7,390 Less: Depreciation 305 Earnings before interest and taxes $1,505 Less: Interest paid 87 Taxable Income $1,418 Less: Taxes 425 Net income $993 Windswept, Inc. 2009 and 2010 Balance Sheets ($ in millions) 2009 Cash $ 240 Accounts rec. 1,020 Inventory 1,620 Total 2010 2009 2010 $ 255 Accounts payable $ 1,380 $1,315 730 Long-term debt 1,640 Common stock 1,130 1,400 $ 3,280 $3,010 460 710 Net fixed assets Total assets $ 2,880 $ 2.625 Retained earnings 3,370 3,810 $6,250 $ 6,435 Total liab. & equity $ 6,250 $ 6,435 What amount should be included in the financing section of the 2010 statement of cash flows for dividends paid
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