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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