What are taxes paid in 2014 assume the firm pays taxes

Question

South Sea Baubles has the following (incomplete) balance sheet and income statement.

BALANCE SHEET AT END OF YEAR
(Figures in $ millions)
Assets	2013		2014		Liabilities and Shareholders' Equity	2013		2014
Current assets	92		150		Current liabilities	54		66
Net fixed assets	820		920		Long-term debt	610		770

INCOME STATEMENT, 2014
(Figures in $ millions)
Revenue	1,960
Cost of goods sold	1,040
Depreciation	360
Interest expense	242

a.	What is shareholders' equity in 2013 and 2014? (Enter your answers in millions.)

	2013	2014
Shareholders' equity	$ million	$ million

b.	What is net working capital in 2013 and 2014? (Enter your answers in millions.)

	2013	2014
Net working capital	$ million	$ million

c.	What are taxes paid in 2014? Assume the firm pays taxes equal to 35% of taxable income. (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.)

Taxes paid

$ million

d.	What is cash provided by operations during 2014? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.)

Cash provided by operations

$ million

e.	Net fixed assets increased from $820 million to $920 million during 2014. What must have been South Sea's gross investment in fixed assets during 2014? (Enter your answer in millions.)

Gross investment

$ million