Birmingham Steels has the following (incomplete) balance sheet and income statement. (a) Determine the shareholders equity in
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(a) Determine the shareholders equity in 2011 and 2012.
(b) Determine the net working capital in 2011 and 2012.
(c) Assuming that Birmingham Steels has a 35% tax rate, determine the income taxes paid in year 2012.
(d) What is cash generated from operation in year 2012?
Transcribed Image Text:
Balance Sheet 2012 Assets 2011 Current assets 200 100 Fixed assets 700 600 Liabilities and Shareholders’ Equity Current liabilities 60 90 450 Long-term debt 550 Income Statement, 2012 Revenue 2,350 Cost of revenue 1130 Depreciation 420 210 Interest expense |All figures in million dollars
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a Shareholders equity in 2011 700 510 190M Shareholders equity ...View the full answer
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