Graffiti Advertising, Inc., reported the following financial statements for the last two years. points 2019 Income Statement Sales $571,200 273,965 Costs of goods sold Selling & administrative 124,721 Depreciation 54,564 eBook Print EBIT Interest $ 117,950 19,560 References EBT Taxes $ 98,390 39,356 Net income $ 59,034 Dividends Addition to retained earnings $ 10,800 $ 48,234 GRAFFITI ADVERTISING, INC. Balance Sheet as of December 31, 2018 Cash $ 13,440 Accounts payable Accounts receivable 18,982 Notes payable Inventory 13,806 Current liabilities $ 9,492 14,496 $23,988 Current assets $ 46,228 Long-term debt $135,840 $ 231,186 Net fixed assets $344,786 Owners' equity Total liabilities Total assets $ 391,014 and owners' equity $ 391,014 GRAFFITI ADVERTISING, INC. Balance Sheet as of December 31, 2019 Cash $ 14,426 Accounts payable Accounts receivable 21,087 Notes payable Inventory 22,766 Current liabilities Current assets $58,279 Long-term debt $ 10,524 16,478 $27,002 $ 153,200 $284,376 Net fixed assets $406,299 Owners' equity Total assets 464,578 Total liabilities and owners' equity $ 464,578 a. Calculate the operating cash flow. (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) b. Calculate the change in net working capital. (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) c. Calculate the net capital spending. (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) d. Calculate the cash flow from assets. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) e. Calculate the cash flow to creditors. (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) f. Calculate the cash flow to stockholders. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Operating cash flow b. Change in net working capital C. Net capital spending d. Cash flow from assets e. Cash flow to creditors f. Cash flow to stockholders
