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Problem 2-22 Calculating Cash Flows (LO3) Consider the following abbreviated financial statements for Barrie Enterprises: BARRIE Enterprises 2019 and 2020 Partial Statement of Financial Position
Problem 2-22 Calculating Cash Flows (LO3) Consider the following abbreviated financial statements for Barrie Enterprises: BARRIE Enterprises 2019 and 2020 Partial Statement of Financial Position Assets Current assets Net fixed assets BARRIE Enterprises 2020 Statement of Comprehensive Sales Costs Depreciation Interest paid 2019 2020 $ 954 $1,030 Current liabilities 4,167 4,936 Long-term debt Owner's equity 2019 Owner's equity 2020 $ 610 Income $ 13,550 5,583 1,233 334 $ $ 1341 a. What is owner's equity for 2019 and 2020? (Omit $ sign in your response.) $ 2545 3209 6412 Liabilities and Owner's Equity 2019 2020 b. What is the change in net working capital for 2020? (Omit $ sign in your response.) Change in NWC $ c1. In 2020, Barrie Enterprises purchased $2,110 in new fixed assets. How much in fixed assets did Barrie Enterprises sell? (Omit $ sign in your response.) Fixed assets sold 385 $ 2,191 $ 8741 420 2,337 c2. In 2020, Barrie Enterprises purchased $2,110 in new fixed assets. What is the cash flow from assets for the year? (The tax rate is 35%) (Omit $ sign in your response.) Cash flow from assets d1. During 2020, Barrie Enterprises raised $418 in new long-term debt. How much long-term debt must Barrie Enterprises have paid off during the year? (Omit $ sign in your response.) Debt retired $ 272 d2. During 2020, Barrie Enterprises raised $418 in new long-term debt. What is the cash flow to creditors? (Omit $ sign in your response.) Cash flow to creditors
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