student0812
Sep 8, 2010, 02:41 PM
How do I compute how much fixed assets have been sold if I have the following information:
Current Assets 2009: $2,665 2010: $2,824
Net fixed assets 12,355 12,917
Current liabilities 1,151 1,691
Long-term debt 6,739 7,862
2010 Income Statement:
Sales $ 39,870
Costs 19,994
Depreciation 3,367
Interest paid 624
In 2010 $5,616 in new fixed assets were purchased. Tax Rate is 40%
I tried adding the new fixed assets to the 2009 NFA total and then subtracting the 2010 NFA total, but am not coming up with the right answer... what am I doing wrong?
Current Assets 2009: $2,665 2010: $2,824
Net fixed assets 12,355 12,917
Current liabilities 1,151 1,691
Long-term debt 6,739 7,862
2010 Income Statement:
Sales $ 39,870
Costs 19,994
Depreciation 3,367
Interest paid 624
In 2010 $5,616 in new fixed assets were purchased. Tax Rate is 40%
I tried adding the new fixed assets to the 2009 NFA total and then subtracting the 2010 NFA total, but am not coming up with the right answer... what am I doing wrong?