Question

Consider the following abbreviated financial statements for Weston Enterprises: (Do not round intermediate calculations.)

  

WESTON ENTERPRISES 2011 and 2012 Partial Balance Sheets
Assets								Liabilities and Owners’ Equity
		2011			2012					2011			2012
Current assets	$	940		$	996			Current liabilities	$	380		$	401
Net fixed assets		3,987			4,588			Long-term debt		2,025			2,182

  

WESTON ENTERPRISES 2012 Income Statement
Sales	$	12,055
Costs		5,815
Depreciation		1,060
Interest paid		180

  

a.	What is owners' equity for 2011 and 2012?

  

Owners' equity 2011	$
Owners' equity 2012	$

b.	What is the change in net working capital for 2012?

  

Change in NWC

$

  

c-1.	In 2012, Weston Enterprises purchased $1,860 in new fixed assets. How much in fixed assets did the company sell

  

Fixed assets sold

$

c-2.	In 2012, what is the cash flow from assets for the year? (The tax rate is 35 percent.)

  

Cash flow from assets

$

  

d-1.	During 2012, Weston Enterprises raised $410 in new long-term debt. How much debt must the company have paid off during the year??

  

Debt retired

d-2.	What is the cash flow to creditors?

  

Cash flow to creditors

$

Answer 1