Here are the 2018 and 2019 (incomplete) balance sheets for Newble Oil Corp.
BALANCE SHEE...
Here are the 2018 and 2019 (incomplete) balance sheets for Newble Oil Corp.
BALANCE SHEET AT END OF YEAR (Figures in $ millions)
Liabilities and Shareholders’
Assets 2018 2019 Equity 2018 2019
Current assets 310 420 Current liabilities 210 240
Net fixed assets 1,200 1,420 Long-term debt 830 920
Required:
a&b. What was shareholders' equity at the end of 2018 and 2019?
c. If Newble paid dividends of $145 million in 2019 and made no stock issues, what must have been net income during the year?
d. If Newble purchased $345 million in fixed assets during 2019, what must have been the depreciation charge on the income statement?
e. What was the change in net working capital between 2018 and 2019?
f. If Newble issued $218 million of new long-term debt, how much debt must have been paid off during the year? (Enter your answer in millions.)
Answers: 3
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