looking for a challenge?

Consider the following abbreviated financial statements for Cabo Wabo, Inc.: (Enter your answer as directed, but do not round intermediate calculations.)

CABO WABO, INC. Partial Balance Sheets as of December 31, 2013 and 2014
		2013		2014			2013		2014
Assets					Liabilities and Owners Equity
Current assets	$	2,745	$	2,884	Current liabilities	$	1,111	$	1,661
Net fixed assets		12,495		13,047	Long-term debt		6,609		7,822

CABO WABO, INC. 2014 Income Statement
Sales	$	40,070
Costs		20,074
Depreciation		3,437
Interest paid		654

Requirement 1:

What is owners equity for 2013 and 2014?

	Owners equity
2013	$
2014	$

Requirement 2:

What is the change in net working capital for 2014? (Negative amount should be indicated by a minus sign.)

Change in net working capital

$

Requirement 3:

In 2014, Cabo Wabo purchased $5,866 in new fixed assets. The tax rate is 40 percent.

(a)	How much in fixed assets did Cabo Wabo sell? (Round your answer to the nearest whole dollar amount (e.g., 32).)

Fixed assets sold

$

(b)	What is the cash flow from assets for the year? (Round your answer to the nearest whole dollar amount (e.g., 32).)

Cash flow from assets

$

Requirement 4:

During 2014, Cabo Wabo raised $1,840 in new long-term debt.

(a)	What is the cash flow to creditors? (Negative amount should be indicated by a minus sign. (Round your answer to the nearest whole dollar amount (e.g., 32).)

Cash flow to creditors

$

(b)	How much long-term debt must Cabo Wabo have paid off during the year? (Round your answer to the nearest whole dollar amount (e.g., 32).)

Debt retired

$