2006 2007 2008 ASSUMPTIONS (current assets shaded) Cash & Equivalents Accounts Receivable Inventory Gross Fixed Assets (Accumulated Dep) Total Assets 550 $200 S250 $300 350 500 600 400 490 1.200 1,500 1,700 (200 250 (300) $1,950 $2,550 $2,800 (current liabilities shaded) Accounts Payable Notes Payable Operating Accruals Current Maturities Long-Term Debt Shareholders Equity Total Liabilities & NW $280 380 150 100 270 500 $1,680 $300 $510 350 260 200 290 110 140 400 650 560 700 $1.920 $2,550 $2,500 1,000 $3,000 $3,700 1,400 1,700 Revenues (Sales) Cost of Goods Sold Operating expenses. Salary, advertising, etc. Depreciation Interest Taxes Net Profit Dividends 1,200 150 60 25 65 30 1,250 200 70 30 50 35 1,500 320 90 30 60 10 Using the information contained in the above financial statements, complete the following questions: a) Calculate cash flow from operations for 2008 (13 points) b) Using the cash flow from operations calculated from part (a). calculate the current liquidity index for 2008 (7 points) (Keep two decimal digits for the final answer, for example, 653%)