What is the asset value of an investment company with $10,000,000 in assets, $790,000 in current liabilities, and 1,200,000 shares outstanding?
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Question
Calculating Owners’ Equity, Net Working Capital, Fixed Assets, Long Term Debt, and Cash Flow to Creditors

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 $ 954 $ 1,024 Current liabilities $ 390 $ 419

Net fixed assets 3,857 4,616 Long-term debt 2,041 2,217

PARROTHEAD ENTERPRISES

2011 Income Statement

Sales $ 12,720

Costs 6,060

Depreciation 1,080

Interest paid 200

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 $1,895 in new fixed assets. How much in fixed assets did Parrothead Enterprises sell?

Fixed assets sold $

c-2

In 2011, Parrothead Enterprises purchased $1,895 in new fixed assets. What is the cash flow from assets for the year? (The tax rate is 35 percent.)

Cash flow from assets $

d-1

During 2011, Parrothead Enterprises raised $410 in new long-term debt. How much long-term debt must Parrothead Enterprises have paid off during the year?

Debt retired $

d-2

During 2011, Parrothead Enterprises raised $410 in new long-term debt. What is the cash flow to creditors?

Cash flow to creditors $

 

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