Selected information for Blake’s Restaurant Supply follows.
| ($ in millions) | |
| 2010 | 2011 |
Net sales | $694 | $782 |
Cost of goods sold | 450 | 502 |
Depreciation | 51 | 61 |
Net income | 130 | 142 |
Finished goods inventory | 39 | 29 |
Accounts receivable | 57 | 87 |
Accounts payable | 39 | 44 |
Net fixed assets | 404 | 482 |
Year-end cash balance | $ 86 | $135 |
a. During 2011, how much cash did Blake’s collect from sales?
b. During 2011, what was the cost of goods produced by the company?
c. Assuming the company neither sold nor salvaged any assetsduring the year, what were the company’s capital expendituresduring 2011?
d. Assuming that there were no financing cash flows during 2011 andbasing your answer solely on the information provided, what wasBlake’s cash flow from operations in 2011?
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