Selected information for Blake’s Restaurant Supply follows.
($millions)
2016 2017
Net sales 694 782
Cost of goods sold 450 502
Depreciation 51 61
Net income 130 142
Finished goods inventory 39 29
Accounts receivable 57 87
Account payable 39 44
Net fixed assets 404 482
Year-end cash balance 86 135
a) During 2017, how much cash did Blake’s collect from sales?
b) During 2017, what was the cost of goods produced by the company?
c) Assuming the company neither sold nor salvaged any assets during the year, what were
the company’s capital expenditures during 2017?
d) Assuming there were no financing cash flows during 2017 and basing your answer solely
on the information provided, what was Blake’s cash flow from operations in 2017?