Consider the following abbreviated financial statements for Parrothead Enterprises: PARROTHEAD ENTERPRISES PARROTHEAD ENTERPRISES 2014 and 2015...

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Consider the following abbreviated financial statements for Parrothead Enterprises: PARROTHEAD ENTERPRISES PARROTHEAD ENTERPRISES 2014 and 2015...

Consider the following abbreviated financial statements for Parrothead Enterprises:

PARROTHEAD ENTERPRISES						PARROTHEAD ENTERPRISES
2014 and 2015 Partial Balance Sheets						2015 Income Statement
Assets			Liabilities & Owners’ Equity			Sales	12063
	2015	2014		2015	2014	Costs	5944
Current assets	990	974	Current liabilities	342	460	Depreciation	1087
Net fixed assets	3876	4383	Long-term debt	2066	2145	Interest	102

During 2015, Parrothead Enterprises raised $377 in new long-term debt. What is the cash flow to creditors?

(Omit the "$" sign and commas in your response. For example, $123,456 should be entered as 123456.)

business finance

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Answer 1

Answer #1

2015 long term debt = 2066

2014 long term debt = 2145

Debt raised = 377

2145 + 377 - debt paid off = 2066

2145 +377 - 2066 = Debt paid off

456 = Debt paid off

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Answer 2

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