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South Sea Baubles has the following (incomplete) balance sheet and income statement. Assume the firm pays taxes equal to 21% of taxable income. BALANCE SHEET
South Sea Baubles has the following (incomplete) balance sheet and income statement.
Assume the firm pays taxes equal to 21% of taxable income.
BALANCE SHEET AT END OF YEAR(Figures in $ millions)
Assets 2018 2019 Liabilities and Shareholders' Equity 2018 2019
Current assets $106$220 Current liabilities $82$108
Net fixed assets9601,060 Long-term debt 680910
INCOME STATEMENT, 2019
(Figures in $ millions)
Revenue $2,030
Cost of goods sold1,110
Depreciation 430
Interest expense 256
f.What is cash provided by operations during 2019?
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