Would the owner of the PNC Arena where the Carolina Hurricanes play hockey be better off financially if the arena were t

[answerhappygod]

Would the owner of the PNC Arena where the Carolina Hurricanes
play hockey be better off financially if the arena were to shut
down? The Gale Force Holdings Limited Partnership owns both the
Carolina Hurricanes (a professional hockey team) and the PNC Arena
where the Hurricanes play. A recent news article stated that the
Carolina Hurricanes owner lost $1.3 million in operating the PNC
Arena for the fiscal year ending June 2015 (Forbes, Mike Ozanian,
“Carolina Hurricanes Owner Lost $1.3 Million Operating PNC Arena,”
November 6, 2015.) Gale Force Holdings LP leases the PNC Arena from
the Centennial Authority (a public/private partnership that
developed and owns the arena). In 2008, the lease for PNC Arena was
extended to 2024. See the following income statement excerpt from
the Gale Force Holdings LP Consolidated Statement of Operations for
the year ended June 30, 2015. (See complete statement at
(Links to
an external site.).)
Revenues $ 23,055,725
Operating expenses 22,748,229
Operating income (loss) $ 307,496
Depreciation & Amortization (1,707,607)
Other Income/Non-Arena Related 105,864
NET INCOME (LOSS) $ (1,294,247)
Questions :
Does “Depreciation & Amortization” affect cash (ignore
income taxes)?
The title of the Forbes news article stated “Carolina Hurricanes
Owner Lost $1.3 Million Operating PNC Arena.” Did the owner
actually incur out-of-pocket expenses causing the loss?
If the Carolina Hurricanes Owner were to suddenly shut down the
PNC Arena, would he be better or worse off financially? Explain.
Assume that there is no alternate use for the PNC Arena.