Current Assets Cash Accounts Receivable Inventory Total Current Assets Fixed Assets Net Plant and Equipment Bahar Corporation 2018 and 2019 Balance Sheets ($ millions) 2018 2019 2018 2019 Current Liabilities $ 34 $ 46 Accounts Payable $ 54 $ 481 $ 154 $ 142 Notes Payable 198 $ 188 $ 340 Total Current Liabilities 252 $ 236 $ 528 Long-term Debt $ 378 $ 327 Owners' Equity $ 2,056 $ 1,999 Common Stock 500 $ 480 Retained Earnings $ 1,454 $ 1,509 Total Owner's Equity $ 1,954 $ 1,989 $ 2,584 $ 2,552 Total Liabilities and Equity $ 2,584 $ 2,552 Total Assets *** Price 60 *** Shares Outstanding ($ millions) 25 Bahar Corporation Income Statement - 2019 ($ millions) Sales $ 1,935 -Cost of Goods Sold $ 1,212 -Depreciation $ 200 Earnings Before Interest and Taxes (EBIT) $ 523 -Interest Paid $ 123 Taxable income $ 400 - Taxes (20%) $ 80 Net Income $ 320 Dividends $ 265 Additions to Retained Earnings $ 55 Question 15 (5 points) If the company paid down $71 of the existing debt, how much did the company borrow in 2019? 16 18 20 22 Question 16 (5 points) If the company sold $30 worth of fixed assets, how much worth of fixed assets are bought in 2019? 297 201 221 173