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South Sea Baubles Inc has the following highlights from its balance sheet and income statements for FY 2013 and 2014 Balance Sheet as of End of Fiscal Year Figures in Millions of

South Sea Baubles, Inc. has the following highlights from its balance sheet and income statements for FY 2013 and 2014. Balance Sheet as of End of Fiscal Year (Figures in Millions of USD) 2013 2014 Assets Cash & Mkt. Securities 40 65 Other Current Assets 50 75 Net Fixed Assets 800 900 Liabilities Current Liabilities 50 60 Long-Term Debt 600 700 Income Statement for Fiscal Year 2014 (Figures in Millions of USD) Revenue 1,950 Cost of Goods Sold 1,030 Depreciation 350 Interest Expense 240 a) What was the magnitude of SSB’s shareholder’s equity in 2013 and 2014? b) What was SSB’s net working capital for these two years? c) What were the taxes paid by SSB in 2014 if the company was in the 35% tax bracket?

 

Aug 21 2020 View more View Less

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