ASSIGNMENT 1-CHAPTER 2 the folowing financial statements for the last two years. Enter your answer as directed, but do not round intermediate calculations. 2014 Income Statement 621,720 Costs of goods sold Selling & administrative 137,206 EBIT 68,828 41,297 15,600 25,697 Addition to retained eamings GRAFFITI ADVERTISING, Balance Sheet as of December 31, 2013 S 14,652 Accounts payable 20,893 Notes payable 15,173 26,393 Current assets 50,718 LongHerm debt 150,500 378,869 Owner's equity 252,694 Not fixed assets S 429,587 Total liabilities and owners' equity 429,587 Total assets GRAFFITI ADVERTISING, INC 31, 2014 Balance Sheet as of 11,563 15,737 Accounts payable 18,113 23,209 Notes payable cument liabilities 29,676 63,975 Long-term debt 446,942 Owners equity S 314,041 Net fixed assets S 510,917 Total liabilities and owners' equity 510,917 Requirement 1: Calculate the operating cash flow. Operating cash flow Requirement 2: Calculate the change in net working capital. Change in net working capital Calculate the net capital spending