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Cash Flow Identity Problem. W-Panic Enterprises, Inc. (WPEI) shows the following balance sheet and income statement information. Assume an average tax rate of 30% for

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Cash Flow Identity Problem. W-Panic Enterprises, Inc. (WPEI) shows the following balance sheet and income statement information. Assume an average tax rate of 30% for WPEI. Balance Sheet 2009 2010 Income Stmt. 2010 Assets Sales $14,000 Current Assets $3,100 $3,200 - Operating Exp's $5,800 Net Fixed Assets $5,400 $6,300 - Depreciation Exp. -$1,100 Liabilities Operating Income $7,100 Current Liabilities $2,600 $2,750 - Interest Exp. -$700 Long-term Debt $2,800 $2,250 Taxable Income Common Stock - Tax Expense ---- Retained Earnings Net Income - Dividend Exp. -3480 (c) What is the Operating Cash Flow in 2010? (d) What is the Cash Flow from Assets for 2010? (e) What is the Cash Flow to Creditors for 2010? ( What is the Cash Flow to Stockholders for 2010? (This item requires a lot of careful thinking.) (g) Verify that the Cash Flow Identity holds

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