September 2023 Consider the following abbreviated financial statements for Parrothead Enterprises PARROTHEAD ENTERPRISES 2014 and 2015 Partial Balance Sheets
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Consider the following abbreviated financial statements for Parrothead Enterprises PARROTHEAD ENTERPRISES 2014 and 2015 Partial Balance Sheets 2023
Consider the following abbreviated financial statements for Parrothead Enterprises: PARROTHEAD ENTERPRISES 2014 and 2015 Partial Balance Sheets Assets Liabilities and Owners’ Equity 2014 2015 2014 2015 Current assets $ 944 $ 1,004 Current liabilities $ 380 $ 413 Net fixed assets 3,877 4,596 Long-term debt 2,031 2,192 PARROTHEAD ENTERPRISES 2015 Income Statement Sales $ 12,245 Costs 5,885 Depreciation 1,000 Interest paid 180 a. What is owners’ equity for 2014 and 2015? (Do not round intermediate calculations.) Owners’ equity 2014 $ [removed] Owners’ equity 2015 $ [removed] b. What is the change in net working capital for 2015? (Do not round intermediate calculations.) Change in NWC $ [removed] c-1 In 2015, Parrothead Enterprises purchased $1,870 in new fixed assets. How much in fixed assets did Parrothead Enterprises sell? (Do not round intermediate calculations.) Fixed assets sold $ [removed] c-2 In 2015, Parrothead Enterprises purchased $1,870 in new fixed assets. What is the cash flow from assets for the year? (The tax rate is 35 percent.) (Do not round intermediate calculations.) Cash flow from assets $ [removed] d-1 During 2015, Parrothead Enterprises raised $400 in new long-term debt. How much long-term debt must Parrothead Enterprises have paid off during the year? (Do not round intermediate calculations.) Debt retired $ [removed] d-2 During 2015, Parrothead Enterprises raised $400 in new long-term debt. What is the cash flow to creditors? (Do not round intermediate calculations.) Cash flow to creditors $ [removed]
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