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Unformatted text preview: .$7,500 $ 7,500 Net Income $ 7,500 Problem 2.16 a) The company had a net income of $5,838 (in millions). b) Cash balance at the beginning of the year was $506 (in millions) and was $793 ( in millions) at the end of the year. The most important reasons for cash decrease during the year were: 1. Purchase of Business 2. Decrease in proceeds from sales and investments c) The largest asset and liability included in the company’s balance sheet are property of building’s at $14,056 (in millions) and accounts payable at $6,032 (in millions) respectively....
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