Question
Here are the 2015 and 2016 (incomplete) balance sheets for Newble Oil Corp. BALANCE SHEET AT END OF YEAR(Figures in $ millions) Assets20152016Liabilities and Shareholders'
Here are the 2015 and 2016 (incomplete) balance sheets for Newble Oil Corp.
BALANCE SHEET AT END OF YEAR(Figures in $ millions)Assets20152016Liabilities and Shareholders' Equity20152016Current assets$330$520Current liabilities$310$260Net fixed assets1,4001,520Long-term debt9301,120
a&b.What was owners' equity at the end of 2015 and 2016?(Enter your answers in millions.)
c.If Newble paid dividends of $200 million in 2016 and made no stock issues, what must have been net income during the year?(Enter your answer in millions.)
d.If Newble purchased $400 million in fixed assets during 2016, what must have been the depreciation charge on the income statement?(Enter your answer in millions.)
e.What was the change in net working capital between 2015 and 2016?(Enter your answer in millions.)
f.If Newble issued $240 million of new long-term debt, how much debt must have been paid off during the year?(Enter your answer in millions.)
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