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PARROTHEAD ENTERPRISES 2020 and 2021 Partial Balance Sheets Assets 2020 2021 Liabilities and Owners Equity 2020 2021 Current assets $ 1,218 $ 1,323 Current liabilities
PARROTHEAD ENTERPRISES | |||||
2020 and 2021 Partial Balance Sheets | |||||
Assets | 2020 | 2021 | Liabilities and Owners Equity | 2020 | 2021 |
---|---|---|---|---|---|
Current assets | $ 1,218 | $ 1,323 | Current liabilities | $ 496 | $ 553 |
Net fixed assets | 4,987 | 6,010 | Long-term debt | 2,650 | 2,819 |
PARROTHEAD ENTERPRISE | |
2021 Income Statement | |
Sales | $ 15,394 |
---|---|
Costs | 7,153 |
Depreciation | 1,375 |
Interest paid | 396 |
c-1. | In 2021, Parrothead Enterprises purchased $2,520 in new fixed assets. How much in fixed assets did the company sell? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) |
c-2. | In 2021, Parrothead Enterprises purchased $2,520 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 and round your answer to the nearest whole number, e.g., 32.) |
d-1. | During 2021, Parrothead Enterprises raised $514 in new long-term debt. How much long-term debt must Parrothead Enterprises have paid off during the year? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) |
d-2. | During 2021, Parrothead Enterprises raised $514 in new long-term debt. What is the cash flow to creditors? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) |
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