value 1000 points Partial Balance Sheets as of December 31 2

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

Solution

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