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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 2018 2019
South Sea Baubles has the following (incomplete) balance sheet and income statement.
BALANCE SHEET AT END OF YEAR | ||||||||||||||
(Figures in $ millions) | ||||||||||||||
Assets | 2018 | 2019 | Liabilities and Shareholders' Equity | 2018 | 2019 | |||||||||
Current assets | $ | 107 | $ | 225 | Current liabilities | $ | 84 | $ | 111 | |||||
Net fixed assets | 970 | 1,070 | Long-term debt | 685 | 920 | |||||||||
INCOME STATEMENT, 2019 | |||
(Figures in $ millions) | |||
Revenue | $ | 2,035 | |
Cost of goods sold | 1,115 | ||
Depreciation | 435 | ||
Interest expense | 257 | ||
Net fixed assets increased from $970 million to $1,070 million during 2019. What must have been South Seas gross investment in fixed assets during 2019?
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