Consider the following abbreviated financial statements for Cabo Wabo, Inc.:

a. What is owners' equity for 2013 and 2014?
b. What is the change in net working capital for 2014?
c. In 2014, Cabo Wabo purchased $8,424 in new fixed assets. How much in fixed assets did Cabo Wabo sell? What is the cash flow from assets for the year? (The tax rate is 40 percent.)
d. During 2014, Cabo Wabo raised $2,535 in new long-term debt. How much long-term debt must Cabo Wabo have paid off during the year? What is the cash flow to creditors?

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CABO WABO, INC. Partial Balance Sheets as of December 31, 2013 and 2014 CABO WABO, INC. 2014 Income Statement $47,842 23,992 4,040 750 2013 2014 2013 2014 Sales Costs Depreciation Interest paid Liabilities and Owners' Equity Assets Current assets S 3,198 S 3,389 Current liabilities $1,381 $2,030 Net fixed assets 14,826 15,500 Long-term debt 8,086 9,434