Question
Consider the following abbreviated financial statements for Parrothead Enterprises: PARROTHEAD ENTERPRISES 2017 and 2018 Partial Balance Sheets Assets Liabilities and Owners Equity 2017 2018 2017
Consider the following abbreviated financial statements for Parrothead Enterprises: |
PARROTHEAD ENTERPRISES 2017 and 2018 Partial Balance Sheets | ||||||||||||||
Assets | Liabilities and Owners Equity | |||||||||||||
2017 | 2018 | 2017 | 2018 | |||||||||||
Current assets | $ | 1,314 | $ | 1,451 | Current liabilities | $ | 608 | $ | 649 | |||||
Net fixed assets | 5,099 | 6,186 | Long-term debt | 2,826 | 3,011 | |||||||||
PARROTHEAD ENTERPRISES 2018 income statement:
Sales = 16,162
costs = 7,297
depreciation = 1,471
interest paid = 460
a. | What is owners' equity for 2017 and 2018? (Do not round intermediate calculations.) |
b. | What is the change in net working capital for 2018? (Do not round intermediate calculations.) |
c-1. | In 2018, Parrothead Enterprises purchased $2,712 in new fixed assets. How much in fixed assets did Parrothead Enterprises sell? (Do not round intermediate calculations.) |
c-2. | In 2018, Parrothead Enterprises purchased $2,712 in new fixed assets. What is the cash flow from assets for the year? The tax rate is 22 percent. (Do not round intermediate calculations.) |
d-1. | During 2018, Parrothead Enterprises raised $594 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 $594 in new long-term debt. What is the cash flow to creditors? (Do not round intermediate calculation)
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I posted this question earlier but most of the answer is wrong. Here is the link to it if you want to take a look at it:
https://www.chegg.com/homework-help/questions-and-answers/consider-following-abbreviated-financial-statements-parrothead-enterprises-parrothead-ente-q31641072
It's frustrating to waste one of my 20 questions for an incorrect answer.
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