Galaxy Interiors 2016 Income Statement
($ in millions)
Net sales $26,415
Cost of goods sold 19,908
Depreciation 2,611
Earnings before interest and taxes 3,896
Interest paid 1,982
Taxable Income $ 1,914
Less: Taxes 540
Net income $ 1,374
Galaxy Interiors
2015 and 2016 Balance Sheets
($ in millions)
2015 2016 2015 2016
Cash 718 397 Accounts payable 1,894 1,932
Accounts receivable 1,611 1,527 Notes payable 2,000 1300
Inventory 3,848 3,947 Total 3,894 3,232
Total 6,177 5,871 Long-term debt 10,000 10,650
Net fixed assets 17,489 18,107 Common stock 7,300 7,000
Retained earnings 2,472 3,096
Total assets 23,666 23,978 Total liab. & equity 23,666 23,978
Considering this information, what is the cash flow from assets for 2016?

Assume that all of thurmond company’s sales are credit sales. it has been the practice of thurmond company to provide for uncollectible accounts expense at the rate of one-half of one percent of net credit sales. for the year 20x1 the company had net credit sales of $2,021,000 and the allowance for doubtful accounts account had a credit balance, before adjustments, of $630 as of december 31, 20x1. during 20x2, the following selected transactions occurred: jan. 20 the account of h. scott, a deceased customer who owed $325, was determined to be uncollectible and was therefore written off. mar. 16 informed that a. nettles, a customer, had been declared bankrupt. his account for $898 was written off. apr. 23 the $906 account of j. kenney & sons was written off as uncollectible. aug. 3 wrote off as uncollectible the $750 account of clarke company. oct. 20 wrote off as uncollectible the $1,130 account of g. michael associates. oct. 27 received a check for $325 from the estate of h. scott. this amount had been written off on january 20 of the current year. dec. 20 cater company paid $7,000 of the $7,500 it owed thurmond company. since cater company was going out of business, the $500 balance it still owed was deemed uncollectible and written off. required: prepare journal entries for the december 31, 20x1, and the seven 20x2 transactions on the work sheets provided at the back of this unit. then answer questions 8 and 9 on the answer sheet. t-accounts are also provided for your use in answering these questions. 8. which one of the following entries should have been made on december 31, 20x1?

Parks corporation is considering an investment proposal in which a working capital investment of $10,000 would be required. the investment would provide cash inflows of $2,000 per year for six years. the working capital would be released for use elsewhere when the project is completed. if the company's discount rate is 10%, the investment's net present value is closest to (ignore income taxes) ?

1.     regarding general guidelines for the preparation of successful soups, which of the following statements is true? a. thick soups made with starchy vegetables may thin during storage. b. soups should be seasoned throughout the cooking process. c. finish a cream soup well before serving it to moderate the flavor. d. consommés take quite a long time to cool. student c   incorrect