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Consider the following abbreviated financial statements for Parrothead Enterprises: PARROTHEAD ENTERPRISES 2017 and 2018 Partial Balance Sheets Assets Liabilities and Owners' Equity 2017 2018 Current
Consider the following abbreviated financial statements for Parrothead Enterprises: PARROTHEAD ENTERPRISES 2017 and 2018 Partial Balance Sheets Assets Liabilities and Owners' Equity 2017 2018 Current assets $1,278 $1,403 Current liabilities $ 566 $ 613 2,760 2,939 2017 2018 Net fixed assets 5,057 6,120 Long-term debt PARROTHEAD ENTERPRISES 2018 Income Statement Sales Costs Depreciation Interest paid 15,874 7,243 1,435 436 a. What is owners' equity for 2017 and 2018? (Do not round intermediate b. What is the change in net working capital for 2018? (Do not round intermediate c-1. In 2018, Parrothead Enterprises purchased $2,640 in new fixed assets. How much calculations.) calculations.) in fixed assets did Parrothead Enterprises sell? (Do not round intermediate calculations.) c-2. In 2018, Parrothead Enterprises purchased $2,640 in new fixed assets. What is the cash flow from assets for the year? The tax rate is 24 percent. (Do not round intermediate calculations.) d-1. During 2018, Parrothead Enterprises raised $564 in new long-term debt. How much long-term debt must Parrothead Enterprises have paid off during the year? (Do not round intermediate calculations.) d-2. During 2018, Parrothead Enterprises raised $564 in new long-term debt. What is the cash flow to creditors? (Do not round intermediate calculations.)
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