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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 $ 103 $ 205 Current liabilities 930 1,030 Long-term debt 2018 2019 $ 76 $ 99 665 880 INCOME STATEMENT, 2019 (Figures in $ millions) Revenue $ 2,015 Cost of goods sold 1,095 Depreciation 415 Interest expense 253 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 $930 million to $1,030 million during 2019. What must have been South Sea's gross investment in fixed assets during 2019
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