Question

Gaston Corporation made sales of  style=”color:rgb(0,0,0);”>$ 725 million during 2014. Of this​ amount, Gaston collected cash for all but $ 24 million. The​ company’s cost of goods sold was $ 250 million, and all other expenses for the year totaled $ 400 million. Also during 2014, Gaston paid $ 410 million for its inventory and $ 290 million for everything else. Beginning cash was $ 85 million. Gaston​’s top management is interviewing you for a job and they ask two​ questions:
a.  How much was Gaston​’s net income for 2014​? b.  How much was Gaston’s cash balance at the end of 2014?
You will get the job only if you answer both questions correctly. ​(Enter all amounts in​ millions.)a.  How much was Gaston​’s net income for 2014? b. How much was Gaston’s cash balance at the end of 2014?
Gaston​’s net income for 2014 is ​$_______ million. Gaston’s cash balance at the end of 2014 is $__________ million

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