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Question
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Galaxy Interiors
2011 Income Statement
($ in millions)
Net sales $21,415
Cost of goods sold 16,408
Depreciation 1,611
Earnings before interest and taxes 3,396
Interest paid 1,282
Taxable Income $ 2,114
Less: Taxes 740
Net income $ 1,374
Galaxy Interiors
2010 and 2011 Balance Sheets
2010 2011 2010 2011
Cash $ 668 $ 297 Accounts payable $1,694 $ 1,532
Accounts receivable 1,611 1,527 Notes payable 2,500 0
Inventory 3,848 2,947 Total $4,194 $ 1,532
Total $ 6,127 $ 4,771 Long-term debt 9,800 10,650
Net fixed assets 17,489 17,107 Common stock 7,500 7,000
Retained earnings 2,122 2,696
Total assets $23,616 $21,878 Total liab. & equity $23,616 $21,878
1) What is the operating cash flow for 2011?
A. $2,114
B. $2,985
C. $3,536
D. $4,267
2) What is the cash flow from assets for 2011?
A. $1,732
B. $2,247
C. $2,961
D. $3,915
3) What is the cash flow to stockholders for 2011?
A. -$500
B. -$800
C. $500
D. $1,300
Explanation / Answer
1. the operating cash flow for 2011
C. $3,536
2. the cash flow from assets for 2011
A. $1,732
3. the cash flow to stockholders for 2011
A. -$500
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