a) What is the 2021 operating cash flow (OCF)?

b) What is the 2021 net capital spending (NCS)?

c) What is the 2021 change in net working capital (NWC)?

d) What is the 2021 cash flow from assets (CFFA)?

e) What is the 2021 cash flow to creditors (CF/CR)?

f) What is the 2021 cash flow to stockholders (CF/SH)?

*Required to show your work.

Consider the following abbreviated financial statements for TSL, Inc.: Current assets Net fixed assets Total assets TSL, Inc. Balance Sheets as of December 31, 2020 and 2021 ($ in thousands) 2020 2021 $15,750 $19,800 13,950 15,300 Sales Cost of goods sold Depreciation $29,700 $35,100 TSL, Inc. 2021 Income Statement ($ in thousands) Earnings before interest and taxes Interest paid Taxable income Taxes Net income Dividends = $2,550 Current liabilities Long-term debt Common stock Retained earnings Total liabilities and shareholders' equity $45,000 34,200 1,800 $9,000 1,575 $7,425 1,350 $6,075 2020 $5,400 9,775 13,400 1,125 $29,700 2021 $6,750 10,000 13,700 4,650 $35,100