At the onset of the recent economic slowdown, prices at the grocery stores continued to rise. in some cases, products such as milk and bread almost doubled in price. a boston newspaper reported, "the price of eggs was up 40% and milk was up 26%." consumers were already being hit with high energy costs, and now their confidence in the economy was further shaken with job cuts and a loss of discretionary income due to increases in food prices. the economy was slowing, but prices were rising, signifying the potential for deflation stagflation disinflation equalization

Slimwood corporation made sales of $ 725 million during 2018. of this amount, slimwood collected cash for $ 670 million. the company's cost of goods sold was $ 300 million, and all other expenses for the year totaled $ 400 million. also during 2018, slimwood paid $ 420 million for its inventory and $ 285 million for everything else. beginning cash was $ 110 million. carter's top management is interviewing you for a job and they ask two questions: (a) how much was carter's net income for 2018? (b) how much was carter's cash balance at the end of 2016? you will get the job only if you answer both questions correctly.