19. Financial Statements. Here are the 2008 and 2009 (incomplete) balance sheets for Nobel Oil Corp. (LOI)

a. What was owners' equity at the end of 2008 and 2009?

b. If Nobel paid dividends of $100 in 2009, and made no stock issues, what must have been net income during the year?

c. If Nobel purchased $300 in fixed assets during the year, what must have been the deprecia- tion charge on the income statement?

d. What was the change in net working capital between 2008 and 2009?

e. If Nobel issued $200 of new long-term debt, how much debt must have been paid off during the year?

Transcribed Image Text:

NOBEL OIL CORP. BALANCE SHEET, AS OF END OF YEAR Liabilities and Assets 2008 2009 Owners' Equity 2008 2009 Current assets $ 310 $ 420 Current liabilities $210 $240 Net fixed assets 1,200 1,420 Long-term debt 830 920