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Consider the following abbreviated financial statements for Cabo Wabo, Inc.: CABO WABO, INC. Partial Balance Sheets as of December 31, 2018 and 2019 2018 2019

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

CABO WABO, INC.

Partial Balance Sheets as of December 31, 2018 and 2019

2018 2019 2018 2019

Assets Liabilities and Owners Equity

Current assets $ 2,998 $ 3,180 Current liabilities $ 1,297 $ 1,908

Net fixed assets 13,873 14,494 Long-term debt 7,173 8,232

CABO WABO, INC.

2019 Income Statement

Sales $ 44,745

Costs 22,437

Depreciation 3,783

Interest paid 1,029

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 $7,885 in new fixed assets. The tax rate is 21 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 $2,377 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.)

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