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Consider the following abbreviated financial statements for Parrothead Enterprises: PARROTHEAD ENTERPRISES 2014 and 2015 Partial Balance Sheets Assets Liabilities and Owners Equity 2014 2015 2014
Consider the following abbreviated financial statements for Parrothead Enterprises: |
PARROTHEAD ENTERPRISES 2014 and 2015 Partial Balance Sheets | ||||||||||||||
Assets | Liabilities and Owners Equity | |||||||||||||
2014 | 2015 | 2014 | 2015 | |||||||||||
Current assets | $ | 944 | $ | 1,004 | Current liabilities | $ | 380 | $ | 413 | |||||
Net fixed assets | 3,877 | 4,596 | Long-term debt | 2,031 | 2,192 | |||||||||
PARROTHEAD ENTERPRISES 2015 Income Statement | ||
Sales | $ | 12,245 |
Costs | 5,885 | |
Depreciation | 1,000 | |
Interest paid | 180 | |
In 2015, Parrothead Enterprises purchased $1,870 in new fixed assets. What is the cash flow from assets for the year? (The tax rate is 35 percent.) |
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