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?