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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
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 $ millions) 2018 2019 Liabilities and Shareholders' Equity $ 105 $ 215 Current liabilities 950 1,050 Long-term debt 2018 2019 $ 80 $ 105 675 900 INCOME STATEMENT, 2019 (Figures in $ millions) Revenue $ 2,025 Cost of goods sold 1,105 Depreciation 425 Interest expense 255 a&b. What is shareholders' equity in 2018 and 2019? c&d. What is net working capital in 2018 and 2019? e. What are taxes paid in 2019? Assume the firm pays taxes equal to 21% of taxable income. f. What is cash provided by operations during 2019? g. Net fixed assets increased from $950 million to $1,050 million during 2019. What must have been South Sea's gross investment in fixed assets during 2019
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