Question
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
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 $ 571,700 Costs of goods sold 273,960 Selling & administrative 124,720 Depreciation 54,563 EBIT $ 118,457 Interest 19,582 EBT $ 98,875 Taxes 39,550 Net income $ 59,325 Dividends $ 10,900 Addition to retained earnings $ 48,425 GRAFFITI ADVERTISING, INC. Balance Sheet as of December 31, 2013 Cash $ 13,450 Accounts payable $ 9,491 Accounts receivable 18,981 Notes payable 14,495 Inventory 13,807 Current liabilities $ 23,986 Current assets $ 46,238 Long-term debt $ 135,760 Net fixed assets $ 344,816 Owner's equity $ 231,308 Total assets $ 391,054 Total liabilities and owners equity $ 391,054 GRAFFITI ADVERTISING, INC. Balance Sheet as of December 31, 2014 Cash $ 14,436 Accounts payable $ 10,525 Accounts receivable 21,086 Notes payable 16,479 Inventory 22,767 Current liabilities $ 27,004 Current assets $ 58,289 Long-term debt $ 153,300 Net fixed assets $ 406,298 Owner's equity $ 284,283 Total assets $ 464,587 Total liabilities and owners equity $ 464,587 Requirement 1: Calculate the operating cash flow. Operating cash flow $ 118305 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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