Consider the following abbreviated financial statements for Parrothead Enterprises: PARROTHEAD ENTERPRISES 2020 and 2021 Partial Balance Sheets 2021 a. b. c-1. Assets Current assets Net fixed assets Sales Costs 2020 Depreciation Interest paid $1,218 4,987 PARROTHEAD ENTERPRISE 2021 Income Statement $15,394 7,153 1,375 396 $1,323 6,010 Liabilities and Owners' Equity Current liabilities Long-term debt 2020 $496 2,650 2021 $ 553 2,819 What is owners' equity for 2020 and 2021? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) What is the change in net working capital for 2021? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) In 2021, Parrothead Enterprises purchased $2,520 in new fixed assets. How much in fixed assets did the company sell? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

Consider the following abbreviated financial statements for Parrothead Enterprises: PARROTHEAD ENTERPRISES 2020 and 2021 Partial Balance Sheets 2021 a. b. c-1. Assets Current assets Net fixed assets Sales Costs 2020 Depreciation Interest paid $1,218 4,987 PARROTHEAD ENTERPRISE 2021 Income Statement $15,394 7,153 1,375 396 $1,323 6,010 Liabilities and Owners' Equity Current liabilities Long-term debt 2020 $496 2,650 2021 $ 553 2,819 What is owners' equity for 2020 and 2021? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) What is the change in net working capital for 2021? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) In 2021, Parrothead Enterprises purchased $2,520 in new fixed assets. How much in fixed assets did the company sell? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter9: Current Liabilities, Contingencies, And The Time Value Of Money

Section: Chapter Questions

Problem 9.9E

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