Consider the following abbreviated financial statements for Weston Enterprises: a. What is owners' equity for 2014 and

Question:

Consider the following abbreviated financial statements for Weston Enterprises:

a. What is owners' equity for 2014 and 2015?
b. What is the change in net working capital for 2015?
c. In 2015, Weston Enterprises purchased $2,350 in new fixed assets. How much in fixed assets did Weston Enterprises sell? What is the cash flow from assets for the year? (The tax rate is 40 percent.)
d. During 2015, Weston Enterprises raised $455 in new long-term debt. How much long-term debt must Weston Enterprises have paid off during the year? What is the cash flow to creditors?

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Cash Flow From Assets
Cash flow from assets is the aggregate total of all cash flows related to the assets of a business. This information is used to determine the net amount of cash being spun off by or used in the operations of a business. The concept is comprised of...