Question: Here are the 2010 and 2011 (incomplete) balance sheets for Nobel Oil Corp? a. What was owners' equity at the end of 2010 and 2011?
Here are the 2010 and 2011 (incomplete) balance sheets for Nobel Oil Corp?
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a. What was owners' equity at the end of 2010 and 2011?
b. If Nobel paid dividends of $100 in 2011, and made no stock issues, what must have been net income during the year?
c. If Nobel purchased $300 in fixed assets during the year, what must have been the depreciation charge on the income statement?
d. What was the change in net working capital between 2010 and 2011?
e. If Nobel issued $200 of new long-term debt, how much debt must have been paid off during the year?
NOBEL OIL CORP. BALANCE SHEET, AS OF END OF YEAR Liabilities and Owners Equity 2010 2011 Assets 2010 Current assetsS 310 Net fixed assets 2011 $ 420 1,420 Current liabilities Long-term debt $210 830 920
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