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Consider the following abbreviated financial statements for Cabo Wabo, Incorporated: Assets Current assets Net fixed assets CABO WABO, INCORPORATED Partial Balance Sheets as of
Consider the following abbreviated financial statements for Cabo Wabo, Incorporated: Assets Current assets Net fixed assets CABO WABO, INCORPORATED Partial Balance Sheets as of December 31, 2021 and 2022 2021 2022 $ 3,088 $ 3,290 13,983 CABO WABO, INCORPORATED 2022 Income Statement 14,504 Liabilities and Owners' Equity Current liabilities Long-term debt 2021 2022 $ 1,357 7,293 $2,008 8,342 Sales Costs Depreciation Interest paid $ 44,895 22,487 3,843 1,009 a. What is owners' equity for 2021 and 2022? Note: 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 2022? Note: 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 2022, the company purchased $7,975 in new fixed assets. The tax rate is 21 percent. How much in fixed assets did the company sell? Note: 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? Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32. d-1. During 2022, the company raised $2,437 in new long-term debt. What is the cash flow to creditors? Note: 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? Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32. a. 2021 Owners' equity 2022 Owners' equity b. Change in net working capital c-1. Fixed assets sold c-2. Cash flow from assets d-1. Cash flow to creditors d-2. Debt retired
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