Question

The Goodyear Tire & Rubber Company's December 31, 2016, financial statements reported the following (in millions). Cash December 31, 2016 $ 1,132 Cash from operating activities 1,504 Cash from investing activities (973 ) Cash from financing activities (875 ) What did Goodyear report for cash on its December 31, 2015 balance sheet? Select one:
A. $1,476 million.
B. $2,281 million.
C. $3,711 million.
D. $ 715 million.
E. None of the above.

Answer 1

Answer:

A. $1,476 million.

Explanation:

Cash at beginning of the year + cash from operating activities + Cash from investing activities + cash from financing activities

Cash at beginning of the year + $1,504 -$973 -$875 = $1132

Cash at beginning of the year - $344 = $1132

Cash at the beginning of the year = $1132 + $344

Cash at the beginning of the year = $1,476 million