1. A firm has $8 million in total assets. It has $3 million in current liabilities, $2.5 million in long-term debt, and $1 million in preferred stock. What is the total value of common equity? 8. What types of questions does the statement of cash flow answer? 9. Why is NOPAT a better performance measure than net income? 10. Define Market Value Added" and "Economic Value Added" BONUS: 1. Define what is net operating working capital and operating current liabilities 2. Define NOPAT? Why is NOPAT a better performance measure than net income? 3. What is free cash flow? Why is it important