ieme of $76,000. What taxes did the firm pay under the flat tax system (21% rate)? What B D E F G H 1 M N 8 #2 9 Balance Sheet 10 2017 2018 2017 2018 11 Current assets 1206 1307 Current liabilities 482 541 12 Net fixed assets 4973 5988 Long term debt 2628 2795 13 14 2018 Income Statement 15 Sales 15301 16 Costs 7135 17 Depreciation 1363 18 Interest paid 388 19 20 Answer the following questions 21 22 1. What is owners' equity for 2017 and 2018? 23 24 25 2. What is the change in net working capital for 2018? 26 27 28 3. In 2018, this firm purchased $2,496 in new fixed assets. How much in fixed assets did the firm sell? What is the cash flow from assets for the year? The tax rate is 21 percent 29 30 31 32 33 4. During 2018, the firm raised $504 in new long-term debt. How much long-term debt must the firm have paid off during the year? What is the cash flow to creditors? 35 36 37 38 39 AZ X 1. A firm had a taxable income of $76,000. What taxes did the firm pay under the flat tax system (21% rate? What tax did the firm pay under the progressive tax system? D H M w L A mhadable income 5,000 Whated their pay under the latterte What did the pay under the progressive that were the energy and marginal trabes under the page Taxable Income Tax Rate $ 0-50,000 ### 50,001-75,000 75,001-100,000 Balance Sheet 2017 10 2017 2018 12 Need assets Current liable Long term der 2795 14 2018 income Statement 15.00 15 Couts 11 Depreciation 18terest paid 1353 20 Are the following questions 221 What is owners' equity for 2017 and 2018? 2. What is the change in networking capital for 2018 1 20 in 2016, this purchased 2,496 in newed assets. How much in desses the means the cash flow from the year Theates 21 percent Sheet Type here to search O 5 PM