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Cowan Corporation had the following financial information for 2019 and 2020. Calculate the Cash Flow From Assets (CFFA) for 2020 using both approaches. Show all

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Cowan Corporation had the following financial information for 2019 and 2020. Calculate the Cash Flow From Assets (CFFA) for 2020 using both approaches. Show all formulas and detailed calculation for each approach. Cowan's Tax rate is 35%. (15 Marks) Sales Cost of Goods Sold Depreciation Interest Dividends Current Assets Net Fixed Assets Current Liabilities Long-term debt 2019 $4,203 2,422 785 180 225 2,205 7,344 1,003 3,106 2020 $4,507 2,633 952 196 250 2,429 7,650 1,255 2,085

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