Graffiti Advertising, Inc., reported the following financial statements for the last two years. Construct the cash flow identity for the company. Explain what each number means.

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2016 Income Statement Sales Cost of goods sold Selling and administrative Depreciation EBIT Interest EBT Taxes Net income Dividends $714,978 384,591 157.787 69,038 $103,562 24,410 s 79,152 27.703 $ 51.449 S 16,200 35,249 Addition to retained earnings GRAFFITI ADVERTISING, INC Balance Sheet as of December 31, 2015 Cash Accounts receivable Inventory Current assets Net fixed assets $16,849 24,027 17,449 $ 58,325 $435,67o Accounts payable Notes payable Current liabilities Long-term debt Owners' equity s 12,115 18.237 $ 30,352 $173,100 $290,543 Total liabilities and owners' equity Total assets $493,998 $493,995 GRAFFITI ADVERTISING, INC Balance Sheet as of December 31. 2016 Cash Accounts receivable Inventory Current assets Net fixed assets $ 18,098 26,690 28,783 $ 73,571 $513,980 Accounts payable Notes payable Current liabilities Long-term debt Owners' equity $ 13,297 20,830 $ 34,127 $192,300 $361,124 Total liabilities and owners' equity Total assets $587,551 $587.551