The following information ($ in millions) comes from a recent annual report of Orinoco.com, Incorporated: Net sales $ 10,831 Total assets 4,431 End of year balance in cash 1,067 Total stockholders' equity 338 Gross profit (Sales − Cost of Sales) 2,654 Net increase in cash for the year 11 Operating expenses 2,064 Net operating cash flow 717 Other income (expense), net (20) Compute Orinoco's cost of goods sold for the year. Multiple Choice $8,767 $5,148 $7,212 $8,177

The following information ($ in millions) comes from a recent annual report of Orinoco.com, Incorporated: Net sales $ 10,831 Total assets 4,431 End of year balance in cash 1,067 Total stockholders' equity 338 Gross profit (Sales − Cost of Sales) 2,654 Net increase in cash for the year 11 Operating expenses 2,064 Net operating cash flow 717 Other income (expense), net (20) Compute Orinoco's cost of goods sold for the year. Multiple Choice $8,767 $5,148 $7,212 $8,177

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Net sales	$ 10,831
Total assets	4,431
End of year balance in cash	1,067
Total stockholders' equity	338
Gross profit (Sales − Cost of Sales)	2,654
Net increase in cash for the year	11
Operating expenses	2,064
Net operating cash flow	717
Other income (expense), net	(20)

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