Question

WESTON ENTERPRISES 2014 and 2015 Partial Balance Sheets Assets Liabilities and Owners’ Equity 2014 2015 2014 2015 Current assets $ 950 $ 1,016 Current liabilities $ 385 $ 416 Net fixed assets 3,967 4,608 Long-term debt 2,035 2,207 WESTON ENTERPRISES 2015 Income Statement Sales $ 12,530 Costs 5,990 Depreciation 1,080 Interest paid 200 a. What is owners' equity for 2014 and 2015?

Answer 1

Missing word "b. What was the change in net working capital for 2014"

a. 2013 2014

Total assets 950+3967 = $4917 1016+4608 = $5624

Total liability 385+2035 = $2420 416+2207 = $2623

Equity $2497 $3001

b.Working capital = Current asset - Current liability

2014 Working capital = 1016 - 416

2014 Working capital = $600

2013 Working capital = 950-385

2013 Working capital = $565

Change in NWC = $600 - $565

Change in NWC = $35