Question
Consider the following abbreviated financial statements for Weston Enterprises: WESTON ENTERPRISES 2019 and 2020 Partial Balance Sheets Assets Liabilities and Owners Equity 2019 2020 2019
Consider the following abbreviated financial statements for Weston Enterprises: WESTON ENTERPRISES 2019 and 2020 Partial Balance Sheets Assets Liabilities and Owners Equity 2019 2020 2019 2020 Current assets $ 1,243 $ 1,302 Current liabilities $ 565 $ 598 Net fixed assets 5,772 6,023 Long-term debt 3,224 3,483 WESTON ENTERPRISES 2020 Income Statement Sales $ 17,511 Costs 5,197 Depreciation 1,528 Interest paid 702 a. What was owners' equity for 2019 and 2020? (Do not round intermediate calculations.) b. What was the change in net working capital for 2020? (Do not round intermediate calculations.) c-1. In 2020, the company purchased $3,106 in new fixed assets. How much in fixed assets did the company sell? (Do not round intermediate calculations.) c-2. In 2020, the company purchased $3,106 in new fixed assets. What was the cash flow from assets for the year? The tax rate is 24 percent. (Do not round intermediate calculations.) d-1. During 2020, the company raised $767 in new long-term debt. How much long-term debt must the company have paid off during the year? (Do not round intermediate calculations.) d-2. During 2020, the company raised $767 in new long-term debt. What was the cash flow to creditors? (Do not round intermediate calculations.)
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