ems Saved Consider the following abbreviated financial state

ems Saved Consider the following abbreviated financial statements for Weston Enterprises: WESTON ENTERPRISES 2016 and 2017 Partial Balance Sheets 2016 3,857 4,548 Long-term debt Adsets Liabilities and Owners\' Equity 2017 Current assets Net fixed assets 20162017 $ 920 $1,005 Current liabilities 365 413 2,000 2,132 WEST?? ENTERPRISES Sales Costs Depreciation Interest paid $11,500 5,510 1,010 180 a. What was owners\' equity for 2016 and 2017? (Do not round intermediate calculations.) Owners\' equity 2016 Owners\' equity 2017 2.,4 b. What was the change in net working capital for 2017? (Do not round intermediate calculations.) hange in NWC $ 1 In 2017, the company purchased $1,810 in new fixed assets. How much in fixed assets did the company sell intermediate calculations.)

Solution

Assets 2016 2017 Liabilities 2016 2017 Current assets 920 1005 Current liabilities 365 413 Net fixed assets 3857 4548 Long term debt 2000 2132 b) What was the change in net working capital for 2017 NWC 2016 920-365 555 NWC 2017 1005-413 592 Change in NWC 37 C) Fixed assets Sold Opening fixed asset 3857 Add : Purchase 1810 Less : Sales -1119 Closing fixed asset 4548 The fixed asset sold was of $1119 c-2 I cannot see the tax rate The cash flow from the asset would be 1119*(1-tax rate) d-1 Long Term debt paid off Opening Long term debt 2000 Add : Loan taken 360 Less : Loan paid -228 Closing Long term debt 2132 The loan paid was $ 228