# Consider the following abbreviated financial statements for Cabo Wabo, Inc.: CABO WABO, INC. Partial Balance Sheets...

###### Question:

Consider the following abbreviated financial statements for Cabo Wabo, Inc.: CABO WABO, INC. Partial Balance Sheets as of December 31, 2018 and 2019 2018 2019 2018 2019 Assets Liabilities and Owners' Equity Current assets $3,151$ 3,367 Current liabilities $1,399$2,078 Net fixed assets 14,060 14,511 Long-term debt 7,377 8,419 $45,000 CABO WABO, INC. 2019 Income Statement Sales 22,522 Costs Depreciation 3,885 Interest paid 995 a. What is owners' equity for 2018 and 2019? (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) What is the change in net working capital for 2019? (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.) c-1. In 2019, the company purchased$8,038 in new fixed assets. The tax rate is 23 percent. How much in fixed assets did the company sell? (Do not round intermediate calculations and round your answer to the nearest whole number, e.a.. 32.)
indicated by a minus sign. Do not rouna intermediate calculations and round your answer to the nearest whole number, e.g., 32.) C-1. In 2019, the company purchased $8,038 in new fixed assets. The tax rate is 23 percent. 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.) C-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.) d-1. During 2019, the company raised$2,479 in new long-term debt. 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.) d-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.) & Answer is complete but not entirely correct. 2018 Owners' equity 2019 Owners' equity Change in net working capital Fixed assets sold 8,435 7,381 463 3,702 Cash flow from assets 14,329 -470 Cash flow to creditors Debt retired 1,437

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