Cabo Corporation Selected Data from the Financial Statements of Cabo Corporation for Corporation

question 97

Essay

Cabo Corporation
Selected data from the financial statements of Cabo Corporation for the years ended December 31, 2011 and 2012, are presented below.
(In thousands)

- Refer to the information provided for Cabo Corporation, what is the amount of cash and cash equivalents at the end of 2012?

---

Definitions:

Passenger Autos

Vehicles designed for personal use, including cars, vans, and some light trucks.

Section 179

A tax code provision allowing businesses to deduct the full purchase price of qualifying equipment or software within the tax year.

Schedule C

A tax form used by sole proprietors to report profits or losses from a business.

Sole Proprietor

An individual who owns and operates a business alone, bearing sole responsibility for its debts and liabilities.