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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? A. $1,476 million B. $2,281 million C. $3,711 million D. $ 715 million E. None of the above

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Answer:

A. $1,476 million

Explanation:

Cash from operating activities $1,504

Cash from investing activities  $(973)

Cash from financing activities  $(875)

Net cash changes                  = $(344)

Add: Beginning cash on hand (December 31) = $1,476 million (Note - 1)

Ending cash balance                                         = $1,132

Note- 1: Calculation: Ending cash balance - Net cash changes = Beginning cash = $1,132 - (-344) = $1,132 + 344 = $1,476 million.

Therefore, option A is the answer.

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