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1. (18 points) ABC Computer Company shows the following information on its pro forma income statement and statement of financial position: 2023 Sale Cost of goods sold Depreciation Interest Tax rate 40% 2023 1,900 Net Working Capital (Non-cash) Capital Expenditure 10,000 2024 60,000 30,000 4,000 1,000 2024 1,500 2025 64,000 31,000 4,500 500 2025 2,500 2026 70,000 34,000 4,800 800 2026 3,000 5,000 5,200 5,400 a. (7pts) Calculate the firm's cash flow from operating activities during the years 2024 and 2026. b. (4pts) In addition, you are told that the company's cash flow to bondholders and cash flow to shareholders in the year 2024 were $8,000 and $3,400, respectively. What was the increase or decrease in cash during 2020? Hint: You have two formulas for cash flow from assets (CFFA). c. (3pts) Explain in words why the net income in 2024 is different from the cash flow generated from the assets during this year. d. (4pts) From the company's statement of financial position, you collect that the average inventory in 2024 is $4,500, and the average of accounts receivables in 2024 is $6,000. Calculate the Operating cycle in 2024.