(Answered) Consider the following abbreviated financial statements for

Accounting

Consider the following abbreviated financial statements for Chinook, Inc.

a. What is owners' equity for 2006 and 2007?

b. What is the change in net working capital for 2007?

c. In 2007, Chinook purchased $3,600 in new fixed assets. How much in fixed assets did Chinook sell? What is the cash flow from assets for the year? (The tax rate is 35 percent.)

d. During 2007, Chinook raised $1,080 in new long-term debt. How much long- term debt must Chinook have paid off during the year? What is the cash flow to creditors?

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