5. Use the income statement and balance sheets that you prepared in question 3 to answer the following questions about Navianca. a. Calculate cash flow to creditors for 2020. b. Calculate cash flow to stockholders for 2020 (remember to account for retained earnings as you are considering only NEW equity raised!) c. Use the cash flow identity to check your answer. income statement sales (-) cost of goods sold (-) depreciation EBIT (-) interest expense taxable income (-) taxes net income (-) dividends retained earnings 2019 829400 643500 57200 128700 17160 111540 2020 858000 657800 57200 143000 17160 125840 111540 37645 73895 125840 42471 83369 2020 386100 200200 586300 balance sheet: ASSETS: 2019 net fixed assets 343200 current assets 214500 total assets 557700 EQUITY & LIABILITIES owners equity 254540 long term debt 200200 current liabilitie 102960 264550 214500 107250 total liabilities and equity 557700586300 Owners equity = total assets-total liabilities Owners equity in 2019 = 557700-200200- 102960 = 254540 Owners equity in 2020 = 586300-214500- 107250=264550 4) Cash flow from assets: fixed assets purchased = net fixed assets 2020+ depreciation charged in 2020-net fixed assets 2019 = 386100+57200-343200 = 100,100 There is cash outflow of 100,100 Because of purchase of new fixed assets