Walgreen Co., the largest drugstore chain in the United States, had the following items in its financial statements for the year ended August 31, 2011 (in millions):Net sales …………… $72,184Net earnings …………… 2,714Additions to property and equipment ….. (1,213)Depreciation and amortization …….. 1,086Proceeds from sale of business …….. 442Cash dividends paid …………. (647)Other noncash expenses ……….. 53Increases in other current liabilities ……. 112Business acquisitions, net of cash received … (630)Increases in inventories ………… (592)Increases in trade accounts payable …….. 384Increases in other current assets ……… (24)Stock repurchases ………… (2,028)Other cash provided by financing activities …. 15Other cash used for investing activities …… (203)Proceeds related to employee stock plans ….. 235Increases in accrued expenses and other liabilities . 218Increases in accounts receivable ……… (243)Repayments on long-term debt ……… (17)Retained earnings …………. 18,877Stock compensation expense ……… 135Deferred income taxes …………. 132Gain on sale of business ……….. (434)Increases in income taxes payable ……. 102Proceeds from sale of assets ……….. 79Total assets …………… 27,454Cash and cash equivalents at beginning of year … ?Cash and cash equivalents at end of year …. 1,556Net decrease in cash and cash equivalents ….. (324)Select the items from this list that would appear in Walgreens’ statement of cash flows and prepare the statement in proper form. Fill in the appropriate amount for cash and cash equivalents at the beginning of the period. Use the indirect method for reporting cash flows from operating activities.View Solution:
Walgreen Co the largest drugstore chain in the United States



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