1. During the past year, a company had cash flow to creditors, an operating cash flow, and net capital spending of $29,574, $66,027, and $27,400, respectively. The net working capital at the beginning of the year was $11,569 and it was $13,300 at the end of the year. What was the company's cash flow to stockholders during the year?

2. You are set to receive an annual payment of $10,600 per year for the next 12 years. Assume the interest rate is 5.5 percent. How much more are the payments worth if they are received at the beginning of the year rather than the end of the year?

3. The winner of the first annual Tom Morris Golf Invitational won $120 in the competition which was held in 1902. In 2015, the winner received $1,490,000. If the winner's purse continues to increase at the same interest rate, how much will the winner receive in2053?

4. During the past year, a company had cash flow to stockholders, an operating cash flow, and net capital spending of $15,932, $38,046, and $17,120, respectively. The net working capital at the beginning of the year was $6,648 and it was $8,180 at the end of the year. What was the company's cash flow to creditors during the year?