Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Newble Oil Corp.'s balance sheets for 2018 and 2019 (incomplete). YEAR-END BALANCE SHEET (Figures in millions of dollars) assets 2018 2019 Liabilities and equity 2018

Newble Oil Corp.'s balance sheets for 2018 and 2019 (incomplete).

YEAR-END BALANCE SHEET
(Figures in millions of dollars)
assets20182019Liabilities and equity20182019
current assets$316$450current liabilities$240$246
net fixed assets1.2601.450long-term debt860980

a&b. What was the equity at the end of 2018 and 2019?

C. If Newble paid a dividend of $130 million in 2019 and did not issue shares, what should be net income for the year?

D. If Newble purchased $330 million of fixed assets in 2019, how much should the depreciation expense on the income statement be?

to. How was the change in net working capital between 2018 and 2019?

If F. Newble made $212 million in new long-term loans, how much should have been paid off during the year? (Enter your answer in millions.)

Complete this question by entering your answers in the tabs below.

A month B : What was the equity at the end of 2018 and 2019? (Enter your answers in millions.)

20182019
Joint capital.millionmillion

A: If Newble paid a dividend of $130 million in 2019 and did not issue shares, what should be the net income for the year? (Enter your answer in millions.)

Net income.million

D: If Newble paid $130 million in dividends in 2019 and didn't issue stock, what should the net income be for the year? (Enter your answer in millions.)

Net income.million

E: What was the change in net working capital between 2018 and 2019? (Enter your answer in millions.)

Change in net working capital.million

F: If Newble made $212 million in new long-term loans, how much should have been paid off during the year? (Enter your answer in millions.)

Debt paid during the year.million

Step by Step Solution

3.51 Rating (151 Votes )

There are 3 Steps involved in it

Step: 1

AB To find the equity at the end of 2018 and 2019 we need to subtract total liabilities from total assets 2018 equity total assets total liabilities 3... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals of Corporate Finance

Authors: Richard Brealey, Stewart Myers, Alan Marcus

10th edition

1260566099, 1260013960, 1260703900, 978-1260566093

More Books

Students also viewed these Finance questions