Evaluate owner''s equity at the end of 2008 and 2009

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Reference no: EM139968

Financial Statements. Here are the 2008 and 2009 (incomplete) balance sheets for Nobel Oli Corp.

NOBEL OIL CORP.BALANCE SHEET, AS OF END OF YEAR

 

Assets

2008

2009

 Liabilities and Owners' Equity

2008

2009

Current assets

$310

$420

Current Liabilities

$210

$240

Net fixed assets

1,200

1,420

Long - term debt

830

920

a. What was owner's equity at the end of 2008 and 2009?

b. If Nobel paid dividends of $100 in 2009, and made no stock issues. what must have been net income during the year?

c. If nobel purchased $300 in fixed assets during the year, what must have been the depreciation charge on the income statement?

d. What was the change in net working capital between 2008 and 2009?

e. If Nobel issued $200 of new long-term debt, how much debt must have been paid off during the year?

Reference no: EM139968

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