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 $573,700 Costs of goods sold 273,940 Selling & administrative 124,716 Depreciation 54,559 EBIT Interest $ 120,485 19,670 EBT Taxes $ 100,815 40,326 Net income $ 60,489 $ 11,300 Dividends Addition to retained earnings $ 49,189 GRAFFITI ADVERTISING, INC. Balance Sheet as of December 31, 2013 GRAFFITI ADVERTISING, INC. Balance Sheet as of December 31, 2013 Cash $ 13,490 Accounts payable Accounts receivable 18,977 Notes payable Inventory 13,811 Current liabilities Current assets $ 46,278 Long-term debt $ 9,487 14.491 $23,978 $ 135,440 Net fixed assets $344,936 Owner's equity $ 231,796 Total assets $ 391,214 Total liabilities and owners' equity $ 391,214 GRAFFITI ADVERTISING, INC. Balance Sheet as of December 31, 2014 Cash $ 14,476 Accounts payable Accounts receivable 21,082 Notes payable Inventory 22,771 Current liabilities Current assets $58,329 Long-term debt $ 10,529 16,483 $ 27,012 153,700 $ $ 10,529 16,483 GRAFFITI ADVERTISING, INC. Balance Sheet as of December 31, 2014 Cash $ 14,476 Accounts payable Accounts receivable 21,082 Notes payable Inventory 22,771 Current liabilities Current assets $58,329 Long-term debt 406,294 Net fixed assets Owner's equity $ 27,012 153,700 $ 283,911 $ Total assets 464,623 Total libilities and owners' equity $ 464,623 $ Requirement 1: Calculate the operating cash flow. Operating cash flow $ Requirement 2: Calculate the change in net working capital. 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. capital $L 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 $
