The Balance Sheet of Old Gold Mines, a Gold Mining

question 6

Multiple Choice

The balance sheet of Old Gold Mines, a gold mining company, for the year ended June 30, 20x1, showed current assets of $6 million, noncurrent assets of $49 million, noncurrent liabilities of $14 million, and current liabilities of $4 million. Compute the amount of shareholders' equity on Old Gold Mines' balance sheet at the end of 20x1.

• A)$14 million
• B)$27 million
• C)$33 million
• D)$37 million
• E)$41 million

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