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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 $ 98 $ 180 Current liabilities $ 66 $ 84
Net fixed assets 880 980 Long-term debt 640 830

INCOME STATEMENT, 2019
(Figures in $ millions)
Revenue $ 1,990
Cost of goods sold 1,070
Depreciation 390
Interest expense 248

a&b. What is shareholders equity in 2018 and 2019?

c&d. What is net working capital in 2018 and 2019?

e. What are taxes paid in 2019? Assume the firm pays taxes equal to 21% of taxable income.

f. What is cash provided by operations during 2019?

g. Net fixed assets increased from $880 million to $980 million during 2019. What must have been South Seas gross investment in fixed assets during 2019?

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