The following information ($ in millions) comes from a recent annual report of Orinoco.com, Incorporated: Net sales $ 10,851 Total assets 4,487 End of year balance in cash 1,170 Total stockholders' equity 440 Gross profit (Sales − Cost of Sales) 2,531 Net increase in cash for the year 17 Operating expenses 2,053 Net operating cash flow 645 Other income (expense), net (20) Compute Orinoco's cost of goods sold for the year. Multiple Choice $8,320 $7,185 $5,132 $8,798
The following information ($ in millions) comes from a recent annual report of Orinoco.com, Incorporated: Net sales $ 10,851 Total assets 4,487 End of year balance in cash 1,170 Total stockholders' equity 440 Gross profit (Sales − Cost of Sales) 2,531 Net increase in cash for the year 17 Operating expenses 2,053 Net operating cash flow 645 Other income (expense), net (20) Compute Orinoco's cost of goods sold for the year. Multiple Choice $8,320 $7,185 $5,132 $8,798
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
The following information ($ in millions) comes from a recent annual report of Orinoco.com, Incorporated:
| Net sales | $ 10,851 |
|---|---|
| Total assets | 4,487 |
| End of year balance in cash | 1,170 |
| Total |
440 |
| Gross profit (Sales − Cost of Sales) | 2,531 |
| Net increase in cash for the year | 17 |
| Operating expenses | 2,053 |
| Net operating |
645 |
| Other income (expense), net | (20) |
Compute Orinoco's cost of goods sold for the year.
Multiple Choice
-
$8,320
-
$7,185
-
$5,132
-
$8,798
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