What is owners equity, Consider the following abbreviated

What is owners equity

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Reference no: EM131835038

Consider the following abbreviated financial statements for Cabo Wabo, Inc.: CABO WABO, INC. Partial Balance Sheets as of December 31, 2015 and 2016 2015 2016 2015 2016 Assets Liabilities and Owners’ Equity Current assets $ 2,817 $ 2,938 Current liabilities $ 1,075 $ 1,634 Net fixed assets 12,621 13,164 Long-term debt 6,492 7,786 CABO WABO, INC. 2016 Income Statement Sales $ 40,250 Costs 20,146 Depreciation 3,500 Interest paid 681 a. What is owners’ equity for 2015 and 2016?

Reference no: EM131835038

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