\begin{tabular}{|lrrr} \hline Selling and administrative expenses & 78,300 & 115,600 & 125,000 \\ \hline Depreciation expense & 7,800 & 19,900 & 35,200 \\ \hline Interest expense & 4,100 & 1,000 & 3,700 \\ \hline Income tax expense & 20,400 & 42,500 & 56,600 \\ \hline Dividends paid & 7,400 & 8,600 & 28,100 \\ \hline Increase/(Decrease) in & & & \\ \hline Accounts receivable & (5,400) & 4,800 & (12,900) \\ \hline Inventory & 3,900 & (12,000) & 15,400 \\ \hline Property, plant, and equipment & 59,900 & (11,100) & 70,200 \\ \hline Accounts payable & 6,100 & (8,000) & 5,640 \\ \hline Interest payable & (1,300) & 1,500 & (600) \\ \hline Income tax payable & 5,300 & (2,900) & 6,900 \\ \hline Notes payable & 25,600 & (46,800) & 10,600 \\ \hline Common shares & 36,000 & (5,100) & (94,300) \\ \hline \end{tabular} : Cash Flow from Operations The following is financial information for three companies: Cash Flow from Operations Windsor Ltd. Ceradyne Ltd. Nash Ltd. $ $ $