Financing section, What amount should be included in the

Financing section

Assignment Help Financial Accounting

Reference no: EM13915455

Use the following information to answer this question.

Windswept, Inc. 2010 Income Statement ($ in millions)
Net sales	$ 9,300
Less: Cost of goods sold	7,440
Less: Depreciation	310
Earnings before interest and taxes	$ 1,550
Less: Interest paid	89
Taxable Income	$ 1,461
Less: Taxes	438
Net income	$ 1,023

Windswept, Inc. 2009 and 2010 Balance Sheets ($ in millions)
	2009	2010		2009	2010
Cash	$ 250	$ 265	Accounts payable	$ 1,410		$ 1,545
Accounts rec.	1,040	940	Long-term debt	1,140		1,410
Inventory	1,640	1,650	Common stock	$ 3,300		$ 3,020
Total	$ 2,930	$ 2,855	Retained earnings	470		720
Net fixed assets	3,390	3,840
Total assets	$ 6,320	$ 6,695	Total liab. & equity	$ 6,320		$ 6,695

What amount should be included in the financing section of the 2010 statement of cash flows for dividends paid?

Reference no: EM13915455

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