24. Oswego Corp. had the following operating results for 2022 & 2021. Oswego paid dividends of $100,000 per year for both years and made capital expenditures of $45,000 in both years. The company's stock price in 2022 was $12.00 and $10.00 in 2021. In 2022, the industry average earnings multiple was 10, the free cash flow multiple was 20 and sales multiple was 2.00. The company is publicly owned and has 1,050,000 shares of outstanding stock at the end of 2022. Balance Sheet, Dec 31, 2022 Cash Accounts Receivable Inventory Total Current Assets Long-lived Assets Total Assets Current Liabilities Long-term Debt Shareholder Equity Total Debt and Equity 2021 $ 489,350 $ 125,000 $ 315,000 $ 400,000 $ 225,000 $ 375,000 $ 1,029,350 $ 900,000 2,345,000 2,350,000 $ 3,374,350 $ 3,250,000 $ 285,000 600,000 2,489,350 $ 3,347,350 $ 315,000 800,000 2,135,000 $ 3,250,000 Income Statement, for year ended Dec 31, 2022 $ 3,775,000 2021 Sales Cost of Sales Gross Margin Operating Expenses Operating Income Taxes Net Income Cash Flow From Operations Net Income Plus Depreciation Expense $ 3,555,000 2,554,000 2,445,000 1,221,000 1,110,000 522,000 445,000 699,000 655,000 244,650 232,750 $454,350 $ 432,250 2022 $ 454,350 + Decrease (-inc) in AccRec. and Inv. 50,000 235,000 2021 $ 432,250 50,000 + Increase (-dec) in Cur. Liabl (30,000 Cash Flow from Operations $ 709,350 482,250 + Questions and required calculations for Oswego Corp. follow on the next page.