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Here are the 2015 and 2016 (incomplete) balance sheets for Newble Oil Corp. Assets Current assets Net fixed assets 2015 $ 310 1,200 BALANCE SHEET
Here are the 2015 and 2016 (incomplete) balance sheets for Newble Oil Corp. Assets Current assets Net fixed assets 2015 $ 310 1,200 BALANCE SHEET AT END OF YEAR (Figures in $ millions) 2016 Liabilities and Shareholders. Equity $ 420 Current liabilities 1,420 Long-term debt 2015 2016 $ 210 $ 240 830 920 a&b. What was owners' equity at the end of 2015 and 20167 (Enter your answers in millions.) Owners' equity million million he c. If Newble paid dividends of $100 million in 2016 and made no stock issues, what must have been net income during the year? (Enter your answer in millions.) Net income million d. If Newble purchased $300 million in fixed assets during 2016, what must have been the depreciation charge on the income statement? (Enter your answer in millions.) Saved d. If Newble purchased $300 million in fixed assets during 2016, what must have been the depreciation charge on the income statement? (Enter your answer in millions.) Depreciation charge million e. What was the change in net working capital between 2015 and 2016? (Enter your answer in millions.) Change in net working capital million f. If Newble issued $200 million of new long-term debt, how much debt must have been paid off during the year? (Enter your answer in millions.) Outstanding debt million
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