The following information ($ in millions) comes from a recent annual report of Orinoco.com, Incorporated: Net sales $ 10,743 Total assets 4,540 End of year balance in cash 1,168 Total stockholders' equity 512 Gross profit (Sales − Cost of Sales) 2,500 Net increase in cash for the year 26 Operating expenses 2,065 Net operating cash flow 660 Other income (expense), net $ (24) Compute Orinoco's balance in cash at the beginning of the year. Multiple Choice $1,020 $1,168 $733 $1,142
The following information ($ in millions) comes from a recent annual report of Orinoco.com, Incorporated: Net sales $ 10,743 Total assets 4,540 End of year balance in cash 1,168 Total stockholders' equity 512 Gross profit (Sales − Cost of Sales) 2,500 Net increase in cash for the year 26 Operating expenses 2,065 Net operating cash flow 660 Other income (expense), net $ (24) Compute Orinoco's balance in cash at the beginning of the year. Multiple Choice $1,020 $1,168 $733 $1,142
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
The following information ($ in millions) comes from a recent annual report of Orinoco.com, Incorporated:
| Net sales | $ 10,743 |
|---|---|
| Total assets | 4,540 |
| End of year balance in cash | 1,168 |
| Total |
512 |
| Gross profit (Sales − Cost of Sales) | 2,500 |
| Net increase in cash for the year | 26 |
| Operating expenses | 2,065 |
| Net operating |
660 |
| Other income (expense), net | $ (24) |
Compute Orinoco's balance in cash at the beginning of the year.
Multiple Choice
-
$1,020
-
$1,168
-
$733
-
$1,142
AI-Generated Solution
AI-generated content may present inaccurate or offensive content that does not represent bartleby’s views.
Unlock instant AI solutions
Tap the button
to generate a solution
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education