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Southeast Corporation made sales of $ 950 million during 2018. Of this​ amount, Southeast collected cash for $ 876 million. The​ company's cost of goods sold was $ 260 ​million, and all other expenses for the year totaled $ 275 million. Also during 2018​, Southeast paid $ 410 million for its inventory and $ 250 million for everything else. Beginning cash was $ 75 million. a. How much was Southeast​'s net income for 2018​? b. How much was Southeast​'s cash balance at the end of 2018​? a. How much was Southeast​'s net income for 2018​?

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felipe020392

Answer:

The cash balace was  $291.000.000

The Net Income was   $415.000.000    

Explanation:

You have to divide the  operations in two the operations that represent cash flow  and operations that only represent a register in the accounting but doesn't represent money exchange.

Net income

Sales                              $950.000.000  

Cost of sold goods       -$260.000.000    

other expenses             -$415.000.000    

Total net income            $415.000.000    

Cash balance

Beginning Cash             $75.000.000    

Collected cash                +$876.000.000    

Paid invetory                   - $410.000.000    

Paid Everything else      -  $250.000.000    

Total cash balance          $291.000.000    

As you can see the first things that you have to do is clasified the movements if they represents money gets by yhe company(+) or cost or expeditures(-), and after you have to make the operations.

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