財務管理題目需幫忙解答!

Question

Consider the following abbreviated financial statements for Parrothead Enterprises:

a. What is owners’ equity for 2010 and 2011?

b. What is the change in net working capital for 2011?

c. In 2011, Parrothead Enterprises purchased $1,890 in new fixed assets. How much in fixed assets did Parrothead Enterprises sell? What is the cash flow from assets for the year? (The tax rate is 35 percent.)

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Answer 1

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a. use balance sheet：Assets=Liabilities+Equites

2010：914+3,767=365+1,991+Equity-->Equity=2,325

2011：990+4,536=410+2,117+Equity-->Equity=2,999

b. Net Working Capital=Current Assets-Current Liabilities

2010：Net Working Capital=914-365=549

2011：Net Working Capital=990-410=580

change in Net Working Capital=580-549=31

c. balance sheet：net fixed assets increase 4,536-3,767=769

However, Parrothead Enterprises purchased 1,890 new fixed assets. So we can infer that some fixed assets had been sold, the amount is 1,890-769=1,121

Cash flow from assets for 2011=EBIT*(1-T)+Depreciation-investment

=(11,592-5,405-1,033)*(1-35%)+1,033-((4,536-3,767+1,033)+(31))=2,550.1

Source(s): me