Cabo Wabo Ltd Partial Balance Sheets as at 31 December 2016 and 2017 Cabo Wabo Ltd 2017 Income Statement 2016 2017 2016 2017 Sales $69 700 ASSETS LIABILITIES AND OWNERS' EQUITY Costs 34 800 $ 4200 $ 4350 $2 400 $3 000 Current assets 5 800 Current liabilities Depreciation 15 300 16 900 Long-term debt 9 100 9 100 Interest paid Net fixed assets 1 100 C. a. What is owners' equity for 2016 and 2017? b. What is the change in net working capital for 2017? In 2017 Cabo Wabo purchased $5616 in new fixed assets. How much in fixed assets did Cabo Wabo sell? What is the cash flow from assets for the year? (The tax rate is 40%.) d. During 2017, Cabo Wabo raised $1690 in new long-term debt. How much long-term debt must Cabo Wabo have paid off during the year? What is the cash flow to creditors? LO 2.4