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6. Calculating Cash Flows. Titan Football Manufacturing had the following operating results for 2018: sales = $19,780; cost of goods sold = $13,980; depreciation expense

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6. Calculating Cash Flows. Titan Football Manufacturing had the following operating results for 2018: sales = $19,780; cost of goods sold = $13,980; depreciation expense = $2,370; interest expense = $345; dividends paid = $550. At the beginning of the year, net fixed assets were $13,800, current assets were $2.940, and current liabilities were $2,070. At the end of the year, net fixed assets were $16,340, current assets were $3,280, and current liabilities were $2,160. The tax rate was 35 percent. (a) What is the net income for 2018? (b) What is the operating cash flow (OCF) for 2018? (c) What is the change in NWC from beginning to the end of the year? What is the capital spending of the year? Based on the answers on change in NWC and capital spending, do you think the company is experiencing expansion or shrinking? (d) What is the cash flow from assets for the year? What does the negative sign of the answer mean

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