Cash flow from assets:

Use the data from the following financial statements in the popup window.

The company paid interest expenses at $18,000 for 2014 and had an overall tax rate of 40% for 2014. Find the cash flow from assets for 2014, and break it into its three parts: Operating cash flow, capital spending, and change in net working capital.

a) The operating cash flow is $????

Partial Income Statement Year Ending 2014 Sales revenue $350,000 Cost of goods sold $140,000 Fixed costs $43,000 Selling, general, and administrative expenses $28,000 Depreciation $46,000 Partial Balance Sheet 12/31/2013 LIABILITIES ASSETS Cash $16,000 Notes payable $14,000 Accounts receivable $28,000 Accounts payable $48,000 Long-term debt $19,000 $190,000 Inventories Fixed assets $368,000 OWNERS' EQUITY Accumulated depreciation $142,000 Retained earnings Intangible assets $82,000 Common stock $130,000 Partial Balance Sheet 12/31/2014 ASSETS LIABILITIES Cash $12,000 Accounts receivable $24,000 $26,000 Notes payable $19,000 Accounts payable $53,000 Long-term debt $448,000 OWNERS' EQUITY Inventories $162,000 Fixed assets Accumulated depreciation Retained earnings Intangible assets $82,000 Common stock $180,000