Nabors, Inc.

$2011$ Income Statement

$($S in millions$)$

Net sales

Less: Cost of goods sold

Less: Depreciation

Earnings before interest and taxes

Less: Interest paid

Taxable Income

Less: Taxes

Net income

$$9,610$

$6,310$

$1,370$

$1,930$

$630$

$$1,300$

$455$

$ $845$

Nabors, Inc.

$2010$ and $2011$ Balance Sheets

$($S in millions$)$

What is the change in fixed assets between $2010$ and $2011?$

$2010$

$2011$

$2010$

$2011$

Cash

$ $310$ $ $405$

Accounts payable

$ $2,720$

$ $2,570$

Accounts rec.

$2,6403,055$

Notes payable

$100$

Inventory

$3,2753,850$

Total

$1)2,820$

$ $2,570$

Total

$ $622557310$

Long$-$term debt

$7,875$

$8,100$

Net fixed assets

$10,96010,670$

Common stock

$5,000$

$5,250$

Retained earnings

$1,490$

$2,060$

Total assets

$$17,185$ $$17,980$

Total liab.& equity

$$17,185$

$$17,980$

Hint: you are given net fixed assets, not gross fixed assets, recall that you must add the depreciation...

O $$1,080$

O $$1,335$

$$ $$2,215$

$$ $$2,845$

O $$3,060$