1. A firm had sales and cost of goods sold of $600 and $300, respectively. Depreciation was $150 and interest paid was $30. Taxes were calculated at a straight 21%. Dividends were $36. (All figures are in millions of dollars- round numbers)

What was operating cash flow this firm?

A. 275

B. 269

C. 720

D. 100

2. (Continue)Suppose beginning net fixed assets were $500 and ending net fixed assets were $750.

What was the net capital spending for the year?

A. 400

B. 900

C. 250

D. 750

3. (Continue) Suppose the firm started the year with $2,130 in current assets and $1,620 in current liabilities, and the ending current assets were $2,276 and ending current liabilities $1,710.

1. What was the change in NWC during the year?
2. What was cash flow from assets?

A. 56, -181

B. 56, 181

C.70, -362

D. 70, 362

4. (Continue) Suppose we know that the firm didnt sell any new equity for the year.

1. What was cash flow to stockholders?
2. What was net new borrowing?

A. 36, 247

B. 75, 250

C. 87, 620

D. 30, 250