Basic accounting - Balance, liabilities, cost and income tax calculus

Feb 1st, 2014
Price: $5 USD

Question description

1. The following information ($ in millions) comes from a recent annual report of, Inc.:

Net sales $10,711
Total assets 4,363
End of year balance in cash 1,022
Total stockholders’ equity 431
Gross profit (Sales – Cost of Sales) 2,456
Net increase in cash for the year 9
Operating expenses 2,067
Net operating cash flow 702
Other income (expense), net (12)

a. Compute Amazon’s balance in cash at the beginning of the year.
b. Compute Amazon’s total liabilities at the end of the year.
c. Compute cost of goods sold for the year.
d. Compute the income before income tax for Amazon.

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