Homework Answers
a.
Owners Equity in 2015 = Total Assets - Current Liability - Long term Debt (all in 2015) = 2681+12383 - 1143-6713 = $7208
Owners Equity in 2016 = 2836 +12943 - 1685-7854 = $6240
b. WC2015 = 2681 - 1143 = 1538
WC2016 = 2836 - 1685 = 1151
Net Change in Working Capital = 1538-1151 = 387
c. Net Fixed Asset = NFA; Depriciation = Dep
NFA15 +Purchases - Sales - Dep16 = NFA16
Hence, Sales = NFA15+ Purchases- Dep16- NFA16 = 12383 +5666 - 3381 - 12943 = 1725
1. Fixed Assets Sold = 1725
2. Cash Flow = outflow of purchases + inflow of sales = -5666 + 1725 = -3941
d. Cash flow to creditor = Net change in debt (otflow for creditor) + Interest received ( inflow for creditor)
1. Cash flow = - (7854-6713) + 630 = -1141+630 = -511
Debt15 + New Debt - Payback = Debt16
hence, payback = Det15+New Debt - Debt16 = 6713+1720-7854 = 579
2. Long term debt paid off = 579
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