value 10.00 points Partial Balance Sheets as of December 31, 2015 and 2016 2016

Question

value 10.00 points Partial Balance Sheets as of December 31, 2015 and 2016 2016 s' EquityS s 1,099 $ 1.652 6,5707,810 t assets $ 2,769 S 2,902 Current liabilities 12,537 13,086 Long-term debt Sales Costs $ 40,130 20,098 3.458 Interest paid a. What is owners equity for 2015 and 2016? (Do not round intermediate calculations and round your answers to the nearest w 2015 b. what is the change in net working capital for 2016? (A negative answer should be indicated by a minus sign?Do not round in ASIMIR Nic

Explanation / Answer

a. Owner's Equity 2015 $         7,637 2016 $         6,526 Working: Owner's Equity = Total Assets - Total Liabilities CABO WABO, INC. Assets 2015 2016 Liabilities 2015 2016 Current Assets $         2,769 $         2,902 Current Liabilities $       1,099 $       1,652 Net Fixed Assets $       12,537 $       13,086 Long-term debt $       6,570 $       7,810 Total Assets $       15,306 $       15,988 Total Liabilities $       7,669 $       9,462 Now, 2015 2016 Total Assets $       15,306 $       15,988 Total Liabilities $         7,669 $         9,462 Owner's Equity $         7,637 $         6,526 b. Change in Net Workin Capital $           -420 Working: Net Working Capital = Current Assets - Current Liabilities 2015 2016 Current Assets $         2,769 $         2,902 Current Liabilities $         1,099 $         1,652 Net Working Capital $         1,670 $         1,250 Change in Net working capital = $                      1,250 - $       1,670 = $                        -420

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