BALANCE SHEET AT END OF YEAR           (Figures in $ millions)           Assets 2021 2022 Liabilities and Shareholders' Equity 2021 2022 Current assets $ 102 $ 200 Current liabilities $ 74 $ 96 Net fixed assets 920 1,020 Long-term debt 660 870 INCOME STATEMENT, 2022   (Figures in $ millions)   Revenue $ 2,010 Cost of goods sold 1,090 Depreciation 410 Interest expense 252     g. Net fixed assets increased from $920 million to $1,020 million during 2022. What must have been South Sea’s gross investment in fixed assets during 2022?........... (M1)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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BALANCE SHEET AT END OF YEAR

 

 

 

 

 

(Figures in $ millions)

 

 

 

 

 

Assets

2021

2022

Liabilities and Shareholders' Equity

2021

2022

Current assets

$ 102

$ 200

Current liabilities

$ 74

$ 96

Net fixed assets

920

1,020

Long-term debt

660

870

INCOME STATEMENT, 2022

 

(Figures in $ millions)

 

Revenue

$ 2,010

Cost of goods sold

1,090

Depreciation

410

Interest expense

252

 

 

g. Net fixed assets increased from $920 million to $1,020 million during 2022. What must have been South Sea’s gross investment in fixed assets during 2022?...........

(M1)

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