Homework Answers
Answer 5:
Correct answer is:
B) $1284 million
Explanation:
Net Income = Sales - Cost of sales - Other expenses (excluding cost of sales) = 15158 - 10972 - 2902 = $1,284 million
Hence option B is correct and other options A, C and D are incorrect.
Answer 6:
Correct answer is:
A) $1476 million
Explanation:
Net changes in cash = Cash from operating activities + Cash from investing activities + Cash from financing activities
= 1504 - 973 - 875
= - $344 million
Cash as Dec 31, 2015 = Cash as Dec 31, 2016 - Net changes in cash = 1132 - (-344) = $1476 million
Hence option A is correct and other options B, C and D are incorrect.
Answer 7:
Correct answer is:
B) 16.8%
Explanation:
ROA = Net Income / Average assets * 100 = 22965 / 136357 * 100 = 16.8%
Hence option B is correct and other options A, C and D are incorrect.
Answer 8:
Working:
Net changes in cash = 1116 - 895 - 107 = $114 million
Cash at the beginning of year = Cash at end of year - Net changes in cash = 351 - 114 = $237 million
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show work as necessary and please be neat 14. In 2016, Nordstrom, Inc. reported the following...
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The following information is available from Bromfield Co.'s accounting records for the year ended December 31, 2019 (amounts in millions) Cash dividends declared and paid $ 334 Interest and taxes paid 91 Collections from customers 1,339 Payment of long-term debt . 210 Purchase of land and buildings 156 Cash paid to suppliers and 813 employees Issuance of preferred stock Proceeds from the sale of equipment Required: a. Calculate the net cash provided (used) by operating activities for Bromfield Co. for...
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show work for each question as necessary, please be neat
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The following information is available from Bromfield Co.'s accounting records for the year ended December 31, 2019 (amounts in millions): Cash dividends declared and paid Interest and taxes paid Collections from customers Payment of long-term debt Purchase of land and buildings Cash paid to suppliers and employees Issuance of preferred stock Proceeds from the sale of equipment $ 329 99 1,346 202 157 797 303 53 Required: a. Calculate the net cash provided (used) by operating activities...
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show work as necessary and please be neat
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show work as necessary and please be neat
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