Western Corporation made sales of $850 million during 2012. Of this amount, Western collected cash..

Western Corporation made sales of $850 million during 2012. Of this amount, Western collected cash for all but $27 million. The company’s cost of goods sold was $290 million, and all other expenses for the year totaled $325 million. Also during 2012, Western paid $380 million for its inventory and $255 million for everything else. Beginning cash was $75 million. Western’s top management is interviewing you for a job and they ask two questions:a. How much was Western’s net income for 2012?b. How much was Western’s cash balance at the end of 2012?You will get the job only if you answer both questionscorrectly.
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Western Corporation made sales of 850 million during 2012 Of