20092010Liabilities and Owners’ EquityCurrent Liabilities $1,151 $1,691 Long-term debt $6,739 $7,862 CABO WABO, INC2010 Income StatementSales $39,870 Costs $19,994 Depreciation $3,367 interest paid $624 a. What is owners’ equity for 2009 and 2010?b. What is the change in net working capital for 2010?c. In 2010, Cabo Wabo purchased $5,616 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 2010, Cabo Wabo raised $1,690 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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