What is owners’ equity for 2013 and 2014? What is the change in net working capi

Question

What is owners’ equity for 2013 and 2014?

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

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

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

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).)

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).)

Explanation / Answer

1)   2013 :  owners’ equity = Total assets - total liabilities

= 15108 - 7822

= $7286

2014 :  owners’ equity = Total assets - total liabilities

= 15817 - 9525

= $6292

2) Change in net working capital = working capital 2014 -  working capital 2013

= [2,848 - 1,679] - [2,697 - 1,135]

= 1169 - 1562

= -393

3) a. Net capital spending = Fixed assets purchased - Fixed assets sold

[12,969 -12,411 + 3,395] = $5,716 -Fixed assets sold

3953 = $5,716 -Fixed assets sold

fixed assets sold = 1763

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