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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

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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 S 566,700 Costs of goods sold 274,010 Selling & administrative 124,730 113.387 9.352 94,025 EBT Taxes 37 610 56415 9.000 retained earnings 46,515 GRAFFITI ADVERTISING, INC Balance Sheet as of December 31, 2013 9,50 13.350 Accounts payable Accounts receivable 18991 Notes payable 14,505 13,797 24,006 46,138 Long-term debt 136,560 $244.516 Owner's equity 230,088 Net fixed assets $390,654 Totalliabilities and owners' equity $390,654 GRAFFITI ADVERTISING, INC Balance Sheet as of December 31, 2014 S 14 336 Accounts payable 10,515 Accounts receivable 21,096 Notes payable 22,757 26,984 58,189 Long-term debt 152,300 406,308 owner's equity 285.213 Net fixed assets 464,497 Total liabilities and owners' equity $464,497 Requirement 1: Calculate the operating cash flow. Operating cash now Requirement 2: Calculate the change in net working capital. Change in networking cap a s l Requirement 3: Calculate the net capital spending. Net capital spending

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