1. [20 points] Use the following information for Old World, Inc., to answer the questions below. Assume that the tax rate is 20%. Sales Depreciation Cost of goods sold Other expenses Interest expenses Current assets Current liabilities Net fixed assets Dividends paid 2018 20,200 3,220 11,700 330 350 3,950 1,720 11,200 550 2019 21,450 3,200 12,850 400 364 4,425 2,150 16,400 600 (a) Draw up an income statement and find out net income for 2019. (b) Calculate the operating cash flow for 2019. (c) Calculate the cash flow from assets (i.e., free cash flow) for 2019. Discuss whether the estimated amount of free cash flow can be interpreted as a negative signal about the firm's operating performance. (d) Suppose that Old World raised $500 by a new debt issue and did not retire any debt in 2019. If the firm did not repurchase any of its own shares, how much capital did Old World raise externally by new equity issues in 2019