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]