Question
Consider the following abbreviated financial statements for Cabo Wabo, Incorporated: CABO WABO, INCORPORATED Partial Balance Sheets as of December 31, 2021 and 2022 Assets 2021
Consider the following abbreviated financial statements for Cabo Wabo, Incorporated:
CABO WABO, INCORPORATED | |||||
Partial Balance Sheets as of December 31, 2021 and 2022 | |||||
Assets | 2021 | 2022 | Liabilities and Owners Equity | 2021 | 2022 |
---|---|---|---|---|---|
Current assets | $ 3,133 | $ 3,345 | Current liabilities | $ 1,387 | $ 2,058 |
Net fixed assets | 14,038 | 14,509 | Long-term debt | 7,353 | 8,397 |
CABO WABO, INCORPORATED | |
2022 Income Statement | |
Sales | $ 44,970 |
---|---|
Costs | 22,512 |
Depreciation | 3,873 |
Interest paid | 999 |
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 $8,020 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 $2,467 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.
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