Question
South Sea Baubles has the following (incomplete) balance sheet and income statement. BALANCE SHEET AT END OF YEAR (Figures in $ millions) Assets 2015 2016
South Sea Baubles has the following (incomplete) balance sheet and income statement.
BALANCE SHEET AT END OF YEAR
(Figures in $ millions)
Assets 2015 2016 Liabilities and Shareholders' Equity 2015 2016
Current assets $ 95 $ 165 Current liabilities $ 60 $ 75
Net fixed assets 850 950 Long-term debt 625 800
________________________________________
INCOME STATEMENT, 2016
(Figures in $ millions)
Revenue $ 1,975
Cost of goods sold 1,055
Depreciation 375
Interest expense 245
________________________________________
f. What is cash provided by operations during 2016? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.)
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