Flustered Enterprises (Use for questions 10 and 11) Current Accounts o 2019 CA = 4,020; CL = 3,020; NWC = 1,000 o 2018: CA = 3,540; CL = 3,000; NWC = 540 Fixed Assets and Depreciation o 2019: NFA = 2,000; 2018: NFA = 1,800 o Depreciation Expense = 500 Long-term Debt and Equity (R.E. not given) o 2019 LTD = 4,000; Common stock & APIC = 400 o 2018 LTD = 3,950; Common stock & APIC = 400 Income Statement o EBIT = 2,000; Taxes = 231 o Interest Expense = 400; Dividends = 500 Using the above information, Flustered's change in net working capital is: $460 $1,540 O -$540 $540 Flustered Enterprises (Use for questions 10 and 11) Current Accounts o 2019 CA = 4,020; CL = 3,020; NWC = 1,000 o 2018: CA = 3,540; CL = 3,000; NWC = 540 Fixed Assets and Depreciation o 2019: NFA = 2,000; 2018: NFA = 1,800 o Depreciation Expense = 500 Long-term Debt and Equity (R.E. not given) o 2019 LTD = 4,000; Common stock & APIC = 400 o 2018 LTD = 3,950; Common stock & APIC = 400 Income Statement o EBIT = 2,000; Taxes = 231 o Interest Expense = 400; Dividends = 500 Using the above information, Flustered's operating cash flow is: $2,069 O $1,969 O $2,459 O $2,269 Joannie MaCrone runs a small business called Fish or Cut Bait Ltd. She makes lures for fishing. Joannie could have Fish or Cut Bait file taxes as a sole proprietor or as a corporation. As a corporation, its tax rate is 21%. Below is the personal income tax rates for 2020. Joannie small business has taxable income of $87,000. What should she do? Use the personal income tax rate table below. Taxable income 0 to $9,525 $9,526 to $38,700 $38,701 to $82,500 $82,501 to $157,500 $157,501 to $200,000 $200,001 to $500,000 Over $500,000 Tax Rate 10% 12% 22% 24% 32% 35% 37% Joannie should file as a sole proprietor Joannie would be indifferent between filing as a sole proprietor or as a corporation. Joannie should file as a corporation