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22. The following is income statement and balance sheet information for a firm. (in Smillions) Sales COGS Interest Dividends Depreciation Current Assets Current Liabilities Long

22. The following is income statement and balance sheet information for a firm. (in Smillions) Sales COGS Interest Dividends Depreciation Current Assets Current Liabilities Long Term Debt Net Fixed Assets Owners' Equity Taxes ($ amount) 2011 $285 175 20 10 40 225 95 320 640 440 17.5 2012 $320 200 35 10 45 210 85 340 700 495 17.5 Note: when answering this problem, do not waste time constructing income statements and balance sheets. Use the above information directly. (a) Calculate Net Capital Spending for 2012 (b) Suppose Cash Flow to Stockholders for 2012 = -12.5. In one, very short sentence) interpret this result. Calculate Cash Flow to Bondholders for 2012. (c) Using the result from part (b) (i.e., do not use the original data), calculate Cash Flow from Assets (i.e., free cash flow. Interpret in one, very short sentence,

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