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for anyone looking for a challenge Graffiti Advertising, Inc., reported the following financial statements for the last two years. (Enter your answer as directed, but

for anyone looking for a challenge

Graffiti Advertising, Inc., reported the following financial statements for the last two years. (Enter your answer as directed, but do not round intermediate calculations.)

2014 Income Statement
Sales $ 565,200
Costs of goods sold 274,025
Selling & administrative 124,733
Depreciation 54,576
EBIT $ 111,866
Interest 19,296
EBT $ 92,570
Taxes 48,137
Net income $ 44,433
Dividends $ 9,600
Addition to retained earnings $ 34,833

GRAFFITI ADVERTISING, INC. Balance Sheet as of December 31, 2013
Cash $ 13,320 Accounts payable $ 9,504
Accounts receivable 18,994 Notes payable 14,508
Inventory 13,794
Current liabilities $ 24,012
Current assets $ 46,108 Long-term debt $ 136,800
Net fixed assets $ 344,426 Owner's equity $ 229,722
Total assets $ 390,534 Total liabilities and owners equity $ 390,534

GRAFFITI ADVERTISING, INC. Balance Sheet as of December 31, 2014
Cash $ 14,306 Accounts payable $ 10,512
Accounts receivable 21,099 Notes payable 16,466
Inventory 22,754
Current liabilities $ 26,978
Current assets $ 58,159 Long-term debt $ 152,000
Net fixed assets $ 406,311 Owner's equity $ 285,492
Total assets $ 464,470 Total liabilities and owners equity $ 464,470

Requirement 1:

Calculate the operating cash flow.

Operating cash flow $

Requirement 2:

Calculate the change in net working capital.

Change in net working capital $

Requirement 3:

Calculate the net capital spending.

Net capital spending $

Requirement 4:

Calculate the cash flow from assets. (Do not include the dollar sign ($). Negative amount should be indicated by a minus sign.)

Cash flow from assets $

Requirement 5:

Calculate the cash flow to creditors.

Cash flow to creditors $

Requirement 6:

Calculate the cash flow to stockholders. (Negative amount should be indicated by a minus sign.)

Cash flow to stockholders $

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