Here are incomplete 2014 and 2015 SFPs for Nobel Corp. a. What was shareholders' equity at the

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Here are incomplete 2014 and 2015 SFPs for Nobel Corp.

Nobel Corp. Statement of Financial Position, as of End of Year Assets 2015 2014 $ 420 $ 310 Current assets PP&E 1,420 1,

a. What was shareholders' equity at the end of 2014 and 2015?
b. If Nobel paid dividends of $100 in 2014, what must have been 2014 net income? Assume no shares were issued or repurchased and no other comprehensive income.
c. If Nobel purchased $300 in equipment during the year, what must have been the depreciation expense on the income statement? No impairment charges were made.
d. What was the change in net working capital between 2014 and 2015?
e. If Nobel issued $200 of new long-term debt in 2015, how much debt must have been paid off during the year?
f. What were the 2015 cash flow from operations and cash flow from assets?
g. What were the 2015 cash flow to bondholders, cash flow to shareholders, and the financing flow? State all assumptions you make.

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Fundamentals of Corporate Finance

ISBN: 978-1259024962

6th Canadian edition

Authors: Richard Brealey, Stewart Myers, Alan Marcus, Devashis Mitra, Elizabeth Maynes, William Lim

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