Corporate Finance 2 Understanding Financial Statements and Cash Flow Lo4 21. Calculating Cash Flows. Titan Football Manufacturing had the followin 0.136: operating results for 2016: sales = $28,476; cost of goods sold-$20, depreciation expense = $3,408; interest expense = $497; dividends paid rent $739. At the beginning of the year, net fixed assets were $19,872, cur assets were $3,528, and current liabilities were $3.110/ At the end of the year, net fixed assets were $22,608, current assets were $4,234, and c liabilities were $2,981. The tax rate for 2016 was 40 percent. a. What is net income for 2016? What is the operating cash flow for 2016? What is the cash flow from assets for 2016? Is this possible? Explain. If no new debt was issued during the year, what is the cash flow to creditors? What is the cash flow to stockholders? Explain and interpret the positive and negaive signs of your answers in parts (a) through (d) b. c. d