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. A firm has the financial information shown below. The average tax rate is 30%. The plowback ratio is 50%. Calculate OCF, NCS, change in

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. A firm has the financial information shown below. The average tax rate is 30%. The plowback ratio is 50%. Calculate OCF, NCS, change in NWC, CFS, CFC, and FCF. Income Statement Revenues Cost of Goods Sold Other operating expenses Depreciation expense EBIT Interest Expense Taxable Income 2019 $20,000 $10,000 $1,000 $3,000 $6,000 $3,200 $2800 $840 $1,960 Taxes Net income 2020 2019 2020 Balance Sheet 2019 $12,000 Current Liabilities $9,000 $8,000 Current Assets $10,000 $88,000 Long-term debt $80,000 $186,000 Total Debt $88,000 $97,000 Fixed Assets $170,000 Accumulated S18,000 Common Stock $15,000 $8,000 $13,020 Depreciation Accumulated Retained Net fixed assets $155,000 $168,000 $69,000 $69,980 Earnings Total Equity $77,000 $83,000 Total Assets $180,000 Total Debt and Equity $165,000 $165,000 $180,000 OCF operating cash flow NCS-net capital spending NWC= net working capital CFS cash flow to shareholders CFC cash flow to creditors FCF-free cash flow

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