Question: Hi looking for help for the same problems with different numbers. Thank you! Consider the following abbreviated financial statements for Cabo Wabo, Inc.: CABO WABO,

Hi looking for help for the same problems with different numbers. Thank you!

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 $ 2,745 $ 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. 2016 Income Statement
Sales $ 40,070
Costs 20,074
Depreciation 3,437
Interest paid 654

a. What is owners equity for 2015 and 2016? (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.)

Owners equity
2015 $
2016 $

b. What is the change in net working capital for 2016? (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.) Change in net working capital $

c. In 2016, the company purchased $5,866 in new fixed assets. The tax rate is 40 percent.

1. How much in fixed assets did the company sell? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

Fixed assets sold $

2. What is the cash flow from assets for the year? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

Cash flow from assets $

d. During 2016, the company raised $1,840 in new long-term debt.

1. What is the cash flow to creditors? (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.)

Cash flow to creditors $

2. How much long-term debt must the company have paid off during the year? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

Debt retired $

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

$

2,809

$

2,932

Current liabilities

$

1,079

$

1,637

Net fixed assets

12,607

13,151

Long-term debt

6,505

7,790

CABO WABO, INC.

2016 Income Statement

Sales

$

40,230

Costs

20,138

Depreciation

3,493

Interest paid

678

a. What is owners equity for 2015 and 2016? (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.)

Owners equity

2015

$

2016

$

b. What is the change in net working capital for 2016? (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.)

Change in net working capital $

c. In 2016, the company purchased $6,066 in new fixed assets. The tax rate is 40 percent.

1. How much in fixed assets did the company sell? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

Fixed assets sold $

2. What is the cash flow from assets for the year? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

Cash flow from assets $

d. During 2016, the company raised $1,960 in new long-term debt.

1. What is the cash flow to creditors? (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.)

Cash flow to creditors $

2. How much long-term debt must the company have paid off during the year? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

Debt retired

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