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 $ 3,070 $ 3,268 Current liabilities $ 1,345 $ 1,988 Net fixed assets 13,961 14,502 Long-term debt 7,269 8,320 CABO WABO, INCORPORATED 2022 Income Statement Sales $ 44,865 Costs 22,477 Depreciation 3,831 Interest paid 1,013 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 $7,957 in new fixed assets. The tax rate is 24 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 $2,425 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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