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Consider the following abbreviated financial statements for Cabo Wabo, Inc.: (Enter your answer as directed, but do not round intermediate calculations.) CABO WABO, INC. Partial

Consider the following abbreviated financial statements for Cabo Wabo, Inc.: (Enter your answer as directed, but do not round intermediate calculations.)

CABO WABO, INC. Partial Balance Sheets as of December 31, 2015 and 2016
2015 2016 2015 2016
Assets Liabilities and Owners Equity
Current assets $ 2,718 $ 2,881 Current liabilities $ 1,174 $ 1,726
Net fixed assets 12,602 13,175 Long-term debt 6,873 8,019

CABO WABO, INC. 2016 Income Statement
Sales $ 40,664
Costs 20,393
Depreciation 3,434
Interest paid 638

Requirement 1:

What is owners equity for 2015 and 2016? (Round your answers to the nearest whole number (e.g., 32).)

Owners equity
2015 $
2016 $

Requirement 2:

What is the change in net working capital for 2016? (Round your answer to the nearest whole number (e.g., 32). Negative amount should be indicated by a minus sign.)

Change in net working capital $

Requirement 3:
In 2016, Cabo Wabo purchased $7,160 in new fixed assets. The tax rate is 40 percent.

(a)

How much in fixed assets did Cabo Wabo sell? (Round your answer to the nearest whole number (e.g., 32).)

Fixed assets sold $

(b)

What is the cash flow from assets for the year? (Round your answer to the nearest whole number amount (e.g., 32).)

Cash flow from assets $

Requirement 4:
During 2016, Cabo Wabo raised $2,155 in new long-term debt.

(a)

What is the cash flow to creditors? (Round your answer to the nearest whole number (e.g., 32).)

Cash flow to creditors $

(b)

How much long-term debt must Cabo Wabo have paid off during the year? (Round your answer to the nearest whole number (e.g., 32). Negative amount should be indicated by a minus sign.)

Debt retired $

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