Problem-solving 1 (8 points) Consider the following abbreviated financial statements for Weston Enterprises: WESTON ENTERPRISES 2011 and 2012 Partial Balance Sheets Assets Liabilities and Owners' Equity Current assets Net fixed assets 3,874,552 Long-term debt 2011 2012 $ 922 1.010 Current liabilities 2011 2012 $ 370 $ 392 2,003 2.137 WESTON ENTERPRISES 2012 Income Statement S 11,200 5,600 1,050 150 Sales Costs Interest paid (The tax rate is 35 percent.) a. What is owners' equity for 2011 and 2012? b. During 2012, Weston Enterprises raised $380 in new long-term debt. What is the cash flow to creditors? How much was long-term debt paid off during the year