Cusic Industries had the following operating results for 2015: sales = $28,260; cost of

goods sold = $19,410; depreciation expense = $4,980; interest expense = $2,340. At

the beginning of the year, net fixed assets were $16,830, current assets were $5,790,

and current liabilities were $3,240. At the end of the year, net fixed assets were $20,310,

current assets were $7,116, and current liabilities were $3,870. The tax rate for 2015

was 30 percent.

a. What was Net Income for 2015?

b. What was the operating cash flow for 2015?

c. What was the cash flow from assets for 2015?

d-1 If no new debt was issued during the year, what was the cash flow to creditors?

d-2 If no new debt was issued during the year, what was the cash flow to stockholders?

e. Assuming that dividends are not distributed, calculate the amount of the total net

new equity raised (if this amount exists).