19. Calculating Cash Flows [LO4] Consider the following abbreviated financial statements for Parrothead Enterprises PARROTHEAD ENTERPRISES 2017 and 2018 Partial Balance Sheets Liabilities and Owners' Equity 2017 2018 20172018 482 S 541 2,628 2,795 Current assets $1.206 $1,307Current liabilities Net fixed assets 4,973 5.988 Long-term debt PARROTHEAD ENTERPRISES 2018 Income Statement Sales Costs Depreciation Interest paid S15.301 7.135 1.363 388 a. What is owners' equity for 2017 and 2018? c. In 20i8. Parrothead Ent in new tixed assets. How much in fixed assets did Parrothead PARROTHEAD ENTERPRISES 2017 and 2018 Partial Balance Sheets Assets 2017 2018 2017 2018 S1,206 $1,307 Current liabilities $ 482 S 541 2,628 2,795 Current assets Net fixed assets 4,973 5,988 Long-term debt PARROTHEAD ENTERPRISES 2018 Income Statement Sales Costs Depreciation Interest paid $15,301 7.135 1,363 388 a. What is owners' equity for 2017 and 2018? b. What is the change in net working capital for 2018? c. In 2018, Parrothead Enterprises purchased $2.496 in new fixed assets. How much in fixed assets did Parrothead Enterprises sell? What is the cash flow from assets for the year? The tax rate is 21 percent. d. During 2018. Parrothead Enterprises raised $504 in new long-term debt. How much long-term debt must Parrothead Enterpies hne paid oitn the ear? Wlir thc st