Question: Help Save & E Che Problem 3-7 Financial Statements (LO1) Here are the 2018 and 2019 (incomplete) balance sheets for Newble Oil Corp. BALANCE SHEET


Help Save & E Che Problem 3-7 Financial Statements (LO1) Here are the 2018 and 2019 (incomplete) balance sheets for Newble Oil Corp. BALANCE SHEET AT END OF YEAR (Figures in $ millions) Assets 2018 2019 Liabilities and Shareholders' Equity 2018 2019 Current assets $ 321 $ 475 Current liabilities $ 265 $ 251 Net fixed assets 1, 310 1, 475 Long-term debt 885 1, 030 a&b. What was shareholders' equity at the end of 2018 and 2019? c. If Newble paid dividends of $155 million in 2019 and made no stock issues, what must have been net income during the year? d. If Newble purchased $355 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 $222 million of new long-term debt, how much debt must have been paid off during the year? (Enter your answer in millions.) Complete this question by entering your answers in the tabs below
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