Problem 2-22 Calculating Cash Flows [Revised] Consider the following abbreviated financial statements for Parrothead Enterprises: PARROTHEAD ENTERPRISES 2010 and 2011 Partial Balance Sheets Assets Liabilities and Owners' Equity 2010 2011 2010 2011 Current assets $ 932 $ 980 Current liabilities $ 375 $ 400 Net fixed assets 3,867 4,572 Long-term debt 2,018 2.162 PARROTHEAD ENTERPRISES 2011 Income Statement Sales $ 11,675 Costs 5,675 Depreciation 1.050 Interest paid 170 a. What is owners' equity for 2010 and 2011? Owners' equity 2010 Owners' equity 2011 $ $ b. What is the change in net working capital for 2011? Change in NWC $ C-1 In 2011, Parrothead Enterprises purchased $1,840 in new fixed assets. How much in fixed assets did Parrothead Enterprises sell? Fixed assets sold c-2 In 2011, Parrothead Enterprises purchased $1.840 in new fixed assets. What is the cash flow from assets for the year? (The tax rate is 35 percent.) $ Cash flow from assets References