Consider the following abbreviated financial statements for Parrothead Enterprises: PARROTHEAD ENTERPRISES 2020 and 2021 Partial Balance...
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Consider the following abbreviated financial statements for Parrothead Enterprises: PARROTHEAD ENTERPRISES 2020 and 2021 Partial Balance Sheets 2020 2021 Liabilities and Owners' Equity $ $ 1,302 1,435 Current liabilities 6,164 Long-term debt a. Assets Current assets Net fixed assets 5,085 PARROTHEAD ENTERPRISES 2021 Income Statement Sales Costs Depreciation Interest paid $ 16,066 7,279 1,459 452 2020 2021 $594 $637 2,804 2,987 What is owners' equity for 2020 and 2021? (Do not round intermediate calculations.) b. What is the change in net working capital for 2021? (Do not round intermediate calculations.) c-1. In 2021, Parrothead Enterprises purchased $2,688 in new fixed assets. How much in fixed assets did Parrothead Enterprises sell? (Do not round intermediate calculations.) c-2. In 2021, Parrothead Enterprises purchased $2,688 in new fixed assets. What is the cash flow from assets for the year? The tax rate is 24 percent. (Do not round intermediate calculations.) d-1. During 2021, Parrothead Enterprises raised $584 in new long-term debt. How much long-term debt must Parrothead Enterprises have paid off during the year? (Do not round intermediate calculations.) a. Owners' equity 2020 a. Owners' equity 2021 b. Change in NWC c-1. Fixed assets sold c-2. Cash flow from assets d-1. Debt retired d-2. Cash flow to creditors d-2. During 2021, Parrothead Enterprises raised $584 in new long-term debt. What is the cash flow to creditors? (Do not round intermediate calculations.) Consider the following abbreviated financial statements for Parrothead Enterprises: PARROTHEAD ENTERPRISES 2020 and 2021 Partial Balance Sheets 2020 2021 Liabilities and Owners' Equity $ $ 1,302 1,435 Current liabilities 6,164 Long-term debt a. Assets Current assets Net fixed assets 5,085 PARROTHEAD ENTERPRISES 2021 Income Statement Sales Costs Depreciation Interest paid $ 16,066 7,279 1,459 452 2020 2021 $594 $637 2,804 2,987 What is owners' equity for 2020 and 2021? (Do not round intermediate calculations.) b. What is the change in net working capital for 2021? (Do not round intermediate calculations.) c-1. In 2021, Parrothead Enterprises purchased $2,688 in new fixed assets. How much in fixed assets did Parrothead Enterprises sell? (Do not round intermediate calculations.) c-2. In 2021, Parrothead Enterprises purchased $2,688 in new fixed assets. What is the cash flow from assets for the year? The tax rate is 24 percent. (Do not round intermediate calculations.) d-1. During 2021, Parrothead Enterprises raised $584 in new long-term debt. How much long-term debt must Parrothead Enterprises have paid off during the year? (Do not round intermediate calculations.) a. Owners' equity 2020 a. Owners' equity 2021 b. Change in NWC c-1. Fixed assets sold c-2. Cash flow from assets d-1. Debt retired d-2. Cash flow to creditors d-2. During 2021, Parrothead Enterprises raised $584 in new long-term debt. What is the cash flow to creditors? (Do not round intermediate calculations.)
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Answer rating: 100% (QA)
Based on the given financial statements we can calculate the answers to the questions as follows a Owners equity for 2020 Owners equity Total assets T... View the full answer
Related Book For
Fundamentals Of Corporate Finance
ISBN: 9781265553609
13th Edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
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