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South Sea Baubles has the following (incomplete) balance sheet and income statement. BALANCE SHEET AT END OF YEAR (Figures in $ millions) Assets Current assets
South Sea Baubles has the following (incomplete) balance sheet and income statement. BALANCE SHEET AT END OF YEAR (Figures in $ millions) Assets Current assets Net fixed assets 2013 2014 Libilities and Shareholders' Equity 2013 2014 60 75 625 800 95 165 Current liabilities 850 950 Long-term debt INCOME STATEMENT, 2014 (Figures in $ millions) Revenue Cost of goods sold Depreciation Interest expense 1,975 1,055 375 245 a. What is shareholders' equity in 2013 and 2014? (Enter your answers in millions.) 2013 2014 Shareholders' equity million million b. What is net working capital in 2013 and 2014? (Enter your answers in millions.) 2013 2014 Net working capital million million c. What are taxes paid in 2014? 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.) Taxes paid million d. What is cash provided by operations during 2014? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.) Cash provided by operations million e. Net fixed assets increased from $850 million to $950 million during 2014. What must have been South Sea's gross investment in fixed assets during 2014? (Enter your answer in millions.) Gross investment million
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