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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 2021 2022 Liabilities

South Sea Baubles has the following (incomplete) balance sheet and income statement.
BALANCE SHEET AT END OF YEAR(Figures in $ millions)Assets20212022Liabilities and Shareholders' Equity20212022Current assets$ 90$ 140Current liabilities$ 50$ 60Net fixed assets800900Long-term debt600750INCOME STATEMENT, 2022(Figures in $ millions)Revenue$ 1,950Cost of goods sold1,030Depreciation350Interest expense240

Required:

a&b. What is shareholders equity in 2021 and 2022?

c&d. What is net working capital in 2021 and 2022?

e. What are taxes paid in 2022? Assume the firm pays taxes equal to 21% of taxable income.

f. What is cash provided by operations during 2022?

g. Net fixed assets increased from $800 million to $900 million during 2022. What must have been South Seas gross investment in fixed assets during 2022?

h. If South Sea reduced its outstanding accounts payable by $35 million during the year, what must have happened to its other current liabilities?

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