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	$	96		$	170		Current liabilities	$	62		$	78
Net fixed assets		860			960		Long-term debt

INCOME STATEMENT, 2019
(Figures in $ millions)
Revenue	$	1,980
Cost of goods sold		1,060
Depreciation		380
Interest expense		246

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 $860 million to $960 million during 2019. What must have been South Seas gross investment in fixed assets during 2019?

• Req A and B
• Req C and D
• Req E
• Req F
• Req G

What is shareholders equity in 2018 and 2019? (Enter your answers in millions.)

What is net working capital in 2018 and 2019? (Enter your answers in millions.)

What is shareholders equity in 2018 and 2019? (Enter your answers in millions.)

	2018		2019
Shareholders' equity		million		million

	2018		2019
Net working capital		million		million

What are taxes paid in 2019? Assume the firm pays taxes equal to 21% of taxable income. (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.)

Taxes paid

million

What is cash provided by operations during 2019? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.)

Cash provided by operations

million

Net fixed assets increased from $860 million to $960 million during 2019. What must have been South Seas grossinvestment in fixed assets during 2019? (Enter your answer in millions.)

Gross investment

million