1. Building a balance Sheet Culligan, Inc., hascurrent assets of $5,300, net fixed assets of $26,000, currentliabilities of $3,900, and long-term debt of $14,200. What is thevalue of the shareholders equity account for this firm? Howmuch is het working capital?

2. Building an Income Statement Ragsdale, Inc.,has sales of $493,000. Costs of $210,000, depreciation expense of$35,000, interest expense of $19,000, and a tax rate of 35percent.

a. What is the net income for the firm?

b. Suppose the company paid out $50,000 in cashdividends. What is the addition to retained earnings?

3. Calculating Operating Cash Flow Ranney,Inc., has sales of $14,900, costs of $5,800, depreciation expenseof $1,300, and interest expense of $780. If the tax rate is 40percent, what is the operating cash flow, or OCF?

4 . Building an Income Statement During theyear, the Senbet Discount Tire Company had gross sales of $1.2million. The firms cost of goods sold and selling expenseswere $450,000 and $225,000, respectively. Senbet also had notespayable of $900,000. These notes carried an interest rate of 9percent. Depreciation was $110,000. Senbets tax rate was 35percent.

a. What was Senbets net income?

b. What was Senbets operating cashflow?