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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) Assets20152016Liabilities and Shareholders' Equity20152016
South Sea Baubles has the following (incomplete) balance sheet and income statement.
BALANCE SHEET AT END OF YEAR(Figures in $ millions)Assets20152016Liabilities and Shareholders' Equity20152016Current assets$100$190Current liabilities$70$90Net fixed assets9001,000Long-term debt650850
INCOME STATEMENT, 2016(Figures in $ millions)Revenue$2,000Cost of goods sold1,080Depreciation400Interest expense250
a&b.What is shareholders' equity in 2015 and 2016?(Enter your answers in millions.)
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