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During 2016, the company raised $1,855 in new long-term debt. 1. What is the cash flow to creditors? Consider the following abbreviated financial statements for
During 2016, the company raised $1,855 in new long-term debt.
1. What is the cash flow to creditors?
Consider the following abbreviated financial statements for Cabo Wabo, Inc.:
CABO WABO, INC. Partial Balance Sheets as of December 31, 2015 and 2016 | |||||||||
2015 | 2016 | 2015 | 2016 | ||||||
Assets | Liabilities and Owners Equity | ||||||||
Current assets | $ | 2,753 | $ | 2,890 | Current liabilities | $ | 1,107 | $ | 1,658 |
Net fixed assets | 12,509 | 13,060 | Long-term debt | 6,596 | 7,818 | ||||
CABO WABO, INC. 2016 Income Statement | ||
Sales | $ | 40,090 |
Costs | 20,082 | |
Depreciation | 3,444 | |
Interest paid | 657 | |
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