- Chapter 20 Saved Graffiti Advertising, Inc., reported the following financial statements for the last two years. 2019 Income Statement Sales $ 568,200 Costs of goods sold 273,995 Selling & administrative 124,727 Depreciation 54,570 EBIT Interest $ 114,908 19,428 EBT Taxes $ 95,480 38,192 Net Income $ 57,288 Dividends Addition to retained earnings $ 10,200 $ 47,088 GRAFFITI ADVERTISING, INC. Balance Sheet as of December 31, 2018 Cash $ 13,380 Accounts payable Accounts recevable 18,988 Notes payable Inventory 13,800 Current liabilities $ 9.498 14,502 $24.000 Current assets $ 136,320 $ 46,168 Long-term debt $344,606 Owners' equity Net fixed assets $ 230.454 Total assets $390,774 Total liabilities and owners' equity $ 390,774 - Chapter 20 Seved GRAFFITI ADVERTISING, INC. Balance Sheet as of December 31, 2019 Cash $ 14,366 Accounts payable Accounts receivable 21,093 Notes payable Inventory 22,760 $ 10,518 16,472 Current liabilities Current assets $ 58,219 Long-term debt $ 26,990 $152,600 $ 284,934 Net fixed assets $406,305 Owners' equity Total assets 464,524 Total liabilities and owners' equity $ 464,524 a. Calculate the operating cash flow. (Do not round Intermediate calculations and round your answer to the nearest whole number, e.g., 32.) b. Calculate the change in net working capital. (Do not round Intermediate calculations and round your answer to the nearest whole number, e.g.. 32.) C. Calculate the net capital spending. (Do not round Intermediate calculations and round your answer to the nearest whole number, e.g., 32.) d. Calculate the cash flow from assets. (A negative answer should be indicated by a minus sign. Do not round Intermediate calculations and round your answer to the nearest whole number, e.g., 32.) e. Calculate the cash flow to creditors. (Do not round Intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Calculate the cash flow to stockholders. (A negative answer should be indicated by a minus sign. Do not round Intermediate calculations and round your answer to the nearest whole number, e.g., 32.) a. Operating cash flow b. Change in net working capital c. Net capital spending d. Cash flow from assets Cash fw in creditors