The balance sheet of Old Gold Mines, a gold mining company,…
The balance sheet of Old Gold Mines, a gold mining company, for the year ended June 30, 20×1, 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 the balance sheet at the end of 20×1.