L04 22. Calculating Cash Flows. Consider the following abbreviated financial statements for Cabo Wabo, Inc.: CABO WABO, INC. Partial Balance Sheets as of December 31, 2015 and 2016 CABO WABO, INC. 2016 Income Statement 2015 2016 Assets Current assets Net fixed assets 2016 2015 Liabilities and Owners' Equity $ 2,881 Current liabilities $1,174 13,175 Long-term debt 6,873 Sales Costs Depreciation Interest paid $40,664 20,393 3,434 938 $2.718 12,602 $1,726 8,019 a. What is owners' equity for 2015 and 2016? b. What is the change in net working capital for 2016? c. In 2016, Cabo Wabo purchased $7,160 in new fixed assets. How much in fixed assets did the company sell? What is the cash flow from assets for the year? (The tax rate is 40 percent.) d. During 2016, Cabo Wabo raised $2,155 in new long-term debt. How much long-term debt must the company have paid off during the year? What is the cash flow to creditors