1. What was the net operating working capital for 2013 and 2014?

2. What was the 2014 free cash flow?

3. Construct 2014 statement of stockholders' equity.

Balance Sheets as of December 31 2014 2013 Assets Cash and equivalents Accounts receivable Inventories Total current assets Net plant and equipment Total assets $ 14,000 30,000 28,125 $ 72,125 50,000 $122,125 $ 13,000 25,000 21,000 $ 59,000 47,000 $106,000 Liabilities and Equity Accounts payable Accruals Notes payable Total current liabilities Long-term bonds Total liabilities Common stock (5,000 shares) Retained earnings Common equity Total liabilities and equity $ 10,800 7,600 6,700 $ 25,100 15,000 $ 40,100 50,000 32,025 $ 82,025 $122,125 $ 9,000 6,000 5,150 $ 20,150 15,000 $ 35,150 50,000 20,850 $ 70,850 $106,000 Income Statement for Year Ending December 31, 2014 Sales Operating costs excluding depreciation and amortization EBITDA Depreciation & amortization EBIT Interest EBT Taxes (40%) Net income Dividends paid $214,000 170,000 $ 44,000 5,000 $ 39,000 1.750 $ 37,250 14.900 $ 22 350 $ 11.175