Question: Use the following information to answer this question. Windswept, Inc. 2010 Income Statement ($ in millions) Net sales $ 9,300 Less: Cost of goods sold

Use the following information to answer this question.

Windswept, Inc. 2010 Income Statement ($ in millions)
Net sales $ 9,300
Less: Cost of goods sold 7,440
Less: Depreciation

310

Earnings before interest and taxes $ 1,550
Less: Interest paid

89

Taxable Income $ 1,461
Less: Taxes

438

Net income

$ 1,023

Windswept, Inc. 2009 and 2010 Balance Sheets ($ in millions)

2009

2010

2009

2010

Cash $ 250 $ 265 Accounts payable $ 1,410 $ 1,545
Accounts rec. 1,040 940 Long-term debt 1,140 1,410
Inventory

1,640

1,650

Common stock $ 3,300 $ 3,020
Total $ 2,930 $ 2,855 Retained earnings

470

720

Net fixed assets

3,390

3,840

Total assets

$ 6,320

$ 6,695

Total liab. & equity

$ 6,320

$ 6,695

What amount should be included in the financing section of the 2010 statement of cash flows for dividends paid?

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