Consider the following abbreviated financial statements for Parrothead Enterprises:

PARROTHEAD ENTERPRISES 2010 and 2011 Partial Balance Sheets Assets Liabilities and Owners Equity 2010 2011 2010 2011 Current assets $ 922 $ 1,010 Current liabilities $ 370 $ 392 Net fixed assets 3,887 4,552 Long-term debt 2,003 2,137

PARROTHEAD ENTERPRISES 2011 Income Statement

Sales $ 11,200

Costs 5,600

Depreciation 1,050

Interest paid 150

a. What is owners' equity for 2010 and 2011? Owners' equity 2010 $ Owners' equity 2011 $

b. What is the change in net working capital for 2011? Change in NWC $

C-1. In 2011, Parrothead Enterprises purchased $1,815 in new fixed assets. How much in fixed assets did Parrothead Enterprises sell? Fixed assets sold $

C-2. In 2011, Parrothead Enterprises purchased $1,815 in new fixed assets. What is the cash flow from assets for the year? (The tax rate is 35 percent.) Cash flow from assets $