Below are the key figures for the company Ivankovic over the last five years.

1 2 3 4 5

Fixed assets 100 110 120 130 140

Working capital 200 225 250 280 315

EBITDA 38 40 44 48 52

Depreciation and amortisation 10 10 11 12 13

Financial expense 14 15 17 19 22

Income tax 7 7.5 8 8 8.5

expense Dividends 5 5 5 6 6

Draw up the cash flow statement for years two to five. State your views