RECOMMENDED!!MBA 503-Gaston Corporation made sales of$ 725 million
Gaston Corporation made sales of$ 725 million during2014.Of this? amount,Gastoncollected cash for all but $ 24 million. The? company’s cost of goods sold was$ 250million, and all other expenses for the year totaled$ 400million. Also during2014, Gastonpaid$ 410million for its inventory and$ 290million for everything else. Beginning cash was$ 85million.Gaston?’s top management is interviewing you for a job and they ask two? questions:a.??How much wasGaston?’s net income for2014??b.??How much wasGaston’scash balance at the end of2014?You will get the job only if you answer both questions correctly.?(Enter all amounts in? millions.)a.??How much wasGaston?’s net income for2014?b. How much was Gaston’s cash balance at the end of 2014?Gaston?’s net income for2014is ?$_______ million.Gaston’s cash balance at the end of 2014 is $__________ million
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