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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, 2013 and 2014
2013 2014 2013 2014
Assets Liabilities and Owners Equity
Current assets $ 2,713 $ 2,860 Current liabilities $ 1,127 $ 1,673
Net fixed assets 12,439 12,995 Long-term debt 6,661 7,838

CABO WABO, INC. 2014 Income Statement
Sales $ 39,990
Costs 20,042
Depreciation 3,409
Interest paid 642

Requirement 1:

What is owners equity for 2013 and 2014?

Owners equity
2013 $
2014 $

Requirement 2:

What is the change in net working capital for 2014? (Negative amount should be indicated by a minus sign.)

Change in net working capital $

Requirement 3:
In 2014, Cabo Wabo purchased $5,766 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 dollar amount (e.g., 32).)

Fixed assets sold $

(b)

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

Cash flow from assets $

Requirement 4:
During 2014, Cabo Wabo raised $1,780 in new long-term debt.

(a)

What is the cash flow to creditors? (Negative amount should be indicated by a minus sign. (Round your answer to the nearest whole dollar amount (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 dollar amount (e.g., 32).)

Debt retired $

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