Question
Consider the following abbreviated financial statements for Weston Enterprises: WESTON ENTERPRISES 2016 and 2017 Partial Balance Sheets Assets Liabilities and Owners Equity 2016 2017 2016
Consider the following abbreviated financial statements for Weston Enterprises:
WESTON ENTERPRISES 2016 and 2017 Partial Balance Sheets | ||||||||||||||
Assets | Liabilities and Owners Equity | |||||||||||||
2016 | 2017 | 2016 | 2017 | |||||||||||
Current assets | $ | 924 | $ | 1,002 | Current liabilities | $ | 370 | $ | 428 | |||||
Net fixed assets | 3,917 | 4,556 | Long-term debt | 2,006 | 2,142 | |||||||||
WESTON ENTERPRISES 2017 Income Statement | |||
Sales | $ | 11,295 | |
Costs | 5,535 | ||
Depreciation | 1,020 | ||
Interest paid | 180 | ||
a. What was owners' equity for 2016 and 2017? (Do not round intermediate calculations.)
Owners' equity 2016 | $ | ||
Owners' equity 2017 | $ | ||
b. What was the change in net working capital for 2017? (Do not round intermediate calculations.) Change in NWC $ c-1 In 2017, the company purchased $1,820 in new fixed assets. How much in fixed assets did the company sell? (Do not round intermediate calculations.) Fixed assets sold $ c-2 In 2017, the company purchased $1,820 in new fixed assets. What was the cash flow from assets for the year? The tax rate is 35 percent. (Do not round intermediate calculations.) Cash flow from assets $ d-1 During 2017, the company raised $360 in new long-term debt. How much long-term debt must the company have paid off during the year? (Do not round intermediate calculations.) Debt retired $ d-2 During 2017, the company raised $360 in new long-term debt. What was the cash flow to creditors? (Do not round intermediate calculations.) Cash flow to creditors $
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