Question: I am stumped here . I created a spreadsheet in excell but in the book I think they are using slightly different wording. please help

I am stumped here . I created a spreadsheet in excell but in the book I think they are using slightly different wording. please help layout my spreadsheet. Very unsure wasting time. Formula help please . Please correct any wrong answers too. thanks you

I am stumped here . I created a spreadsheet in
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 $ 950 $1,016 Current liabilities $ 385 $ 416 Net fixed assets 3,967 4,608 Longterm debt 2,035 2,207 [ WESTON ENTERPRISES 2017 Income Statement Sales $12,530 Costs 5,99% Depreciation 1,085 Interest paid 2aa a. What was owners' equity for 2016 and 2017? (Do not round intermediate calculations.) Owners' equity 2016 $ 2497 Owners' equity 2517 $ 3001 b. What was the change in net working capital for 2017? (Do not round intermediate calculations.) Change in ch $ c-1 In 2017, the company purchased $1,885 in new fixed assets. How much in fixed assets did the company sell? (Do not round intermediate calculations.) Fixed assets sold :15 c-2 In 2017, the company purchased $1,885 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 55 |:| d-1 During 2017, the company raised $410 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 $410 in new long-term debt. What was the cash flow to creditors? (Do not round intermediate calculations.) Cash flow to creditors $

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!