Use the following data (in millions) for Campbell Soup Co. for the year ending July 29, 2001, to answer the following questions.
Retained earnings July 29, 2000
Retained earnings July 29, 2001
Net cash from operating activities
Net decrease in cash
a. Determine the net increase or decrease in retained earnings during 2001.
b. If dividends in 2001 are $371, what was the net income or loss for Campbell Soup for the year ending July 29, 2001?
c. Why doesn’t your answer in (b) agree with the net cash from operating activities of $1,106 shown above?
d. Why doesn’t the net cash from operating activities of $1,106 agree with the net decrease in cash of $3?