Bonus: (3 points each question, if you do all questions correctly we will get 10 points in total)

The following information is provided for problems 13 to 15:

Portions of the financial statements for UTEP Inc. are provided below.

UTEP Inc.
Income Statement
For the Year Ended December 31, 2018
($ in millions)
Sales			$3,960
Cost of goods sold			1,500
Gross margin			2,460
Salaries expense	$660
Depreciation expense	540
Patent amortization expense	30
Interest expense	120
Loss on sale of land	18		$1,368
Income before taxes			1,092
Income tax expense			546
Net Income			$546

UTEP Inc.
Selected Accounts from Comparative Balance Sheets
December 31, 2018 and 2017
($ in millions)
	Year
	2018	2017	Change
Cash	612	600	12
Accounts receivable	1,320	1,392	(72)
Inventory	2,640	2,700	(60)
Accounts payable	840	804	36
Salaries payable	480	516	(36)
Interest payable	150	120	30
Income taxes payable	90	60	30

13. How much cash (in millions) did UTEP Inc. collect from customers in 2018?

$4,032

$3,996

$3,960

$3,924

$3,888

14. How much cash (in millions) did UTEP Inc. pay for interest in 2018?

$84

$90

$120

$150

$156

15. How much cash (in millions) did UTEP Inc. pay to its suppliers in 2018?

$1404

$1476

$1524

$1536

$1596