Consider the following abbreviated financial statements for Cabo Wabo, Inc.:

Problem 2-22 Calculating Cash Flows [LO 4] 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 20152016 Assets Liabilities and Owners' Equity $ 1,119 $ 1,667 6,635 7,830 s 2,729 2,872 Current liabilities Current assets Net fixed assets 12,467 13,021 Long-term debt CABO WABO, INC 2016 Income Statement Sales Costs Depreciation Interest paid $40,030 20,058 3,423 648 a. What is owners' equity for 2015 and 2016? (Do not round intermediate calculations and round your answers to then owners equity 2015 2016 b. What is the change in net working capital for 2016? (A negative answer should be indicated by a minus sign. Do not ro number, e.g., 32.) Change in net working capital c. In 2016, the company purchased $5,816 in new fixed assets. The tax rate is 40 percent. 29