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Consider the following abbreviated financial statements for Cabo Wabo, Inc. CABO WABO, INC Partial Balance Sheets as of December 31, 2015 and 2016 2015 2016
Consider the following abbreviated financial statements for Cabo Wabo, Inc. CABO WABO, INC Partial Balance Sheets as of December 31, 2015 and 2016 2015 2016 2015 2016 Assets Liabilities and Owners' Equity $ 1.123 S 1,670 6.648 7834 $ 2.721 S 2,866 Current liabilities Current assets Net fixed assets 12,453 13,008 Long-term debt CABO WABO, INC 2016 Income Statement Sales Costs Depreclation Interest paid $ 40,010 20,050 645 a. What is owners' equity for 2015 and 20167 (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) Owners' equity 2015 2016 7403 6370 b. What is the change in net working capital for 2016 (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.) Change in net working capital c. In 2016, the company purchased $5,791 in new fixed assels. The tax rate is 30 percent 1. 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.) Fixed assets sold 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.) Cash flow from assets d. During 2016, the company raised $1.795 in new long-term debt. 1. What is the cash low 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.) Cash flow to creditons 2. How much long-tem debt must the company have paid ofr during the year? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g. 32.) Debt retired -403 1820
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