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Please help with Problem F. South Sea Baubles has the following (Incomplete) balance sheet and Income statement. Assets Current assets Net fixed assets BALANCE SHEET
Please help with Problem F.
South Sea Baubles has the following (Incomplete) balance sheet and Income statement. Assets Current assets Net fixed assets BALANCE SHEET AT END OF YEAR (Figures in 5 millions) 2015 2016 Liabilities and shareholders' Equity $ 99 $ 140 Current liabilities 800 900 Long-term debt 2015 2016 $ 50 $ 60 600 750 INCOME STATEMENT, 2016 (Figures in $ millions) Revenue $ 1,950 Cost of goods sold 1,038 Depreciation 350 Interest expense 240 a&b. What is shareholders' equity in 2015 and 2016? (Enter your answers in millions.) Answer is complete and correct. 2015 2016 $ 240 million $ 230 million Shareholders' equity c&d. What Is net working capital in 2015 and 2016? (Enter your answers in millions.) Answer is complete and correct. 2015 2016 540 million $ 30 million Networking capital e. What are taxes pald In 2016? Assume the firm pays taxes equal to 35% of taxable income. (Do not round Intermediate calculations. Enter your answer in millions rounded to 2 decimal places.) Answer is complete and correct. Taxes paid $15.50 million f. What is cash provided by operations during 2016? (Do not round Intermediate calculations. Enter your answer in millions rounded to 2 decimal places.) * Answer is complete but not entirely correct. Cash provided by million operations g. Net fixed assets Increased from $800 million to $900 million during 2016. What must have been South Sea's gross Investment in fixed assets during 2016? (Enter your answer in millions.) Answer is complete and correct. 450 million GrossStep by Step Solution
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