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Consider the following abbreviated financial statements for Cabo Wabo, Inc.: 2018 2019 CABO WABO, INC. Partial Balance Sheets as of December 31, 2018 and 2019
Consider the following abbreviated financial statements for Cabo Wabo, Inc.: 2018 2019 CABO WABO, INC. Partial Balance Sheets as of December 31, 2018 and 2019 2018 2019 Assets Liabilities and Owners' Equity Current assets $ 3.169 $ 3,389 Current liabilities 14,082 14,513 long-te Net fixed assets Long-term debt $ 1,411$ 2,098 7,401 8,441 CABO WABO, INC. 2019 Income Statement Sales $ 45,030 22,532 Costs Depreciation 3,897 Interest paid 991 a. What is owners' equity for 2018 and 2019? (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) b. What is the change in net working capital for 2019? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) C-1. In 2019, the company purchased $8,056 in new fixed assets. The tax rate is 25 percent. How much in fixed assets did the company sell? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) c-2. What is the cash flow from assets for the year? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) d-1. During 2019, the company raised $2,491 in new long-term debt. What is the cash flow to creditors? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) d-2. How much long-term debt must the company have paid off during the year? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) a. 2018 Owners' equity 2019 Owners' equity b. Change in net working capital C-1. Fixed assets sold c-2. Cash flow from assets d-1. Cash flow to creditors d-2. Debt retired
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