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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 | $ | 1,238 | $ | 1,299 | Current liabilities | $ | 562 | $ | 596 | |||||
Net fixed assets | 5,767 | 6,023 | Long-term debt | 3,220 | 3,477 | |||||||||
WESTON ENTERPRISES 2020 Income Statement | ||
Sales | $ | 17,493 |
Costs | 5,191 | |
Depreciation | 1,524 | |
Interest paid | 696 | |
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 $3,102 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 $3,102 in new fixed assets. What was the cash flow from assets for the year? The tax rate is 23 percent. (Do not round intermediate calculations.) |
d-1. | During 2020, the company raised $762 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 $762 in new long-term debt. What was the cash flow to creditors? |
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