The table below shows Walgreen Company's 2014 and 2013 balance sheets and selected items from the 2014 income statement.

WALGREEN CO. AND ITS SUBSIDIARIES ($ million)
Selected Balance Sheet Data				Selected Income Statement Data
	2014	2013			2014
stocks	$16,088	$14,756		Cost of Goods Sold	103.384 $
Property and Equipment, Few				Depreciation Expense	1.618
Accumulated Depreciation	23.052	22.368
Business Accounts Receivable	9.620	9.170		net earnings	5.428
Retained earnings	37.754	33.696

Required

A.	Calculate the amount of cash paid for merchandise inventories in 2014. Let's assume that business accounts payable is for merchandise purchases only.
B.	Calculate the net cost of the property acquired in 2014.
C.	Calculate the cash dividends paid in 2014.

Answer rating: 100% (QA)

A To calculate the amount of cash paid for merchandise inventories in 2014 we need to consider the c... View the full answer