23 24 Chuck's Charter Services 25 Balance sheets as of Dec. 31 2019 and 2020 (in $1,000s CDN) 26 2019 2020 27 Cash $490 $407 28 Accounts rec. $255 $384 29 Inventory $1,150 $1,200 30 Current assets $1,895 $1,991 31 Net fixed assets $1,500 $1,503 32 Total assets $3,395 $3,494 33 34 2019 2020 35 Accounts payable $1,011 $1,059 36 Notes payable $105 $155 37 Current liabilities $1,116 $1,214 38 Long-term debt $1,800 $1,886 39 Retained earnings $1,595 $1,608 40 Total L&E $3,395 $3,494 41 Chuck's Charter Services 2020 Income Statement (in $1,000s CDN) Net sales $4,292 Cost of goods sold $3,600 Depreciation $180 EBIT $512 Interest paid $256 Taxable income $256 Taxes $51 Net income $205 45 46 42 2. Use the balance sheet and income statement above, to complete the following: 43 A. What is the change in net working capital for 2020? 44 B. What is the net capital spending for 2020? C. What is the OCF for 2020? D. What is the cash flow from assets for 2020? 47 E. What is the ending net working capital for 2020? F. What is the net new equity for 2020? 49 G What is the cash flow to stockholders for 2020? 50 *A dividend of $303 was paid. 51 H. What is the cash flow to creditors for 2020? 52 1. Prove that the cash flow equation is in balance 53 48