Inverness Steel Corporation is a producer of flat-rolled carbon,
stainless and electrical steels, and tubular products. The
company's income statement for the 2018 fiscal year reported the
following information ($ in millions):
Sales
$
7,100
Cost of goods sold
6,100
The company's balance sheets for 2018 and 2017 included the
following information ($ in millions):
2018
2017
Current assets:
Accounts receivable, net
$
722
$
622
Inventories
940
854
The statement of cash flows reported bad debt expense for 2018...