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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 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 | $ | 1,308 | $ | 1,443 | Current liabilities | $ | 601 | $ | 643 | |||||
Net fixed assets | 5,092 | 6,175 | Long-term debt | 2,815 | 2,999 | |||||||||
PARROTHEAD ENTERPRISES 2018 Income Statement | ||
Sales | $ | 16,114 |
Costs | 7,288 | |
Depreciation | 1,465 | |
Interest paid | 456 | |
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 $2,700 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 $2,700 in new fixed assets. What is the cash flow from assets for the year? The tax rate is 21 percent. (Do not round intermediate calculations.) |
d-1. | During 2018, Parrothead Enterprises raised $589 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 $589 in new long-term debt. What is the cash flow to creditors? (Do not round intermediate calculations.) |
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