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South Sea Baubles has the following (incomplete) balance sheet and income statement. Assets Current assets Net fixed assets BALANCE SHEET AT END OF YEAR (Figures
South Sea Baubles has the following (incomplete) balance sheet and income statement. Assets Current assets Net fixed assets BALANCE SHEET AT END OF YEAR (Figures in $ millions) 2015 2016 Liabilities and shareholders' Equity $ 100 $ 190 Current liabilities 900 1,000 Long-term debt 2015 2016 $ 70 $ 90 650 850 INCOME STATEMENT, 2016 (Figures in $ millions) Revenue $ 2,000 Cost of goods sold 1,080 Depreciation 400 Interest expense 250 a&b. What is shareholders' equity in 2015 and 2016? (Enter your answers in millions.) 2015 2016 Shareholders' equity $ 280 million $ 250 million c&d. What is net working capital in 2015 and 2016? (Enter your answers in millions.) 2015 2016 million Net working capital million e. What are taxes paid in 2016? Assume the firm pays taxes equal to 35% of taxable income. (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.) Taxes paid million f. What is cash provided by operations during 2016? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.) Cash provided by operations million g. Net fixed assets increased from $900 million to $1,000 million during 2016. What must have been South Sea's gross investment in fixed assets during 2016? (Enter your answer in millions.) Gross investment million
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