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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 Current
South Sea Baubles has the following (incomplete) balance sheet and income statement. BALANCE SHEET AT END OF YEAR (Figures in $ millions) Assets Current assets Net fixed assets 2021 $ 107 970 2022 Liabilities and Shareholders' Equity $ 225 Current liabilities 1,070 Long-term debt 2021 $ 84 685 INCOME STATEMENT, 2022 (Figures in $ millions) Revenue Cost of goods sold Depreciation Interest expense $ 2,035 1,115 435 257 2022 $ 111 920 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 $970 million to $1,070 million during 2022. What must have been South Sea's gross investr fixed assets during 2022? h. If South Sea reduced its outstanding accounts payable by $52 million during the year, what must have happened to its othe liabilities? Complete this question by entering your answers in the tabs below. Req A and B Req C and D Req E Req F Req G Req H If South Sea reduced its outstanding accounts payable by $52 million during the year, what must have happened to its other Complete this question by entering your answers in the tabs below. Req A and B Req C and D Req E Req F Req G Req H What is shareholders' equity in 2021 and 2022? Note: Enter your answers in millions. Shareholders' equity 2021 2022 million million Req A and B Req C and D > Complete this question by entering your answers in the tabs below. Req A and B Req C and D Req E Req F Req G Req H What is net working capital in 2021 and 2022? Note: Enter your answers in millions. Net working capital 2021 million 2022 million < Req A and B Req E > Complete this question by entering your answers in the tabs below. Req A and B Req C and D Req E Req F Req G Req H What are taxes paid in 2022? Assume the firm pays taxes equal to 21% of taxable income. Note: Do not round intermediate calculations. Enter your answer in millions rounded to 2 de Taxes paid million < Req C and D Req F > Complete this question by entering your answers in the tabs below. Req A and B Req C and D Req E Req F Req G Req H What are taxes paid in 2022? Assume the firm pays taxes equal to 21% of taxable income Note: Do not round intermediate calculations. Enter your answer in millions rounded to 2 c Cash provided by operations million < Req E Req G > Complete this question by entering your answers in the tabs below. Req A and B Req C and D Req E Req F Req G Req H Net fixed assets increased from $970 million to $1,070 million during 2022. What must have investment in fixed assets during 2022? Note: Enter your answer in millions. Gross investment million < Req F Req H > Complete this question by entering your answers in the tabs below. Req A and B Req C and D Req E Req F Req G Req H If South Sea reduced its outstanding accounts payable by $52 million during the year, what must have happened to its other current liabilities? Note: Enter your answers in millions. Other current liabilities < Req G million Req H >
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