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Consider the following abbreviated financial statements for Weston Enterprises: WESTON ENTERPRISES 2011 and 2012 Partial Balance Sheets Assets Liabilities and Owners' Equity 2011 2012 Current

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Consider the following abbreviated financial statements for Weston Enterprises: WESTON ENTERPRISES 2011 and 2012 Partial Balance Sheets Assets Liabilities and Owners' Equity 2011 2012 Current assets 922 $1,010 Current liabilities Net fixed assets3,887 4,552 Long-term debt 2011 2012 $ 370 $ 392 2,003 2,137 WESTON ENTERPRISES 2012 Income Statement Sales Costs Depreciation Interest paid $11,200 5,600 1,050 150 (The tax rate is 35 percent.) a. What is owners' equity for 2011 and 2012? b. During 2012, Weston Enterprises raised $380 in new long-term debt. What is the cash flow to creditors? How much was long-term debt paid off during the year

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