19 Four years ago, Chadron Express purchased a mailing machine at a cost of $218,000. This equipment is currently valued at $97,400 on today's balance sheet but could actually be sold for $92,900. This is the only fixed asset the firm owns. Net working capital is $51,300 and long-term debt is $101,000. What is the book value of shareholders' equity?

• A. $31,400
• B. $249,400
• C. $253,900
• D. $35,900
• E. $47,700

20 A firm has earnings before interest and taxes of $27,130, net income of $16,220, and taxes of $5,450 for the year. While the firm paid out $31,600 to pay off existing debt it then later borrowed $23,020. What is the amount of the cash flow to creditors?

• A. -$4,940
• B. $14,040
• C. $0
• D. -$14,040
• E. $4,940