Mailings Review View Help viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing Question 2: 50% 2 Net Fixed Assets and Depreciation (L03) On the statement of financial position, the net fixed assets (NFA) account is equal to the gross fixed assets (FA) account (which records the acquisition cost of fixed assets) minus the accumulated depreciation (AD) account (which records the total depreciation taken by the firm against its fixed assets). Using the fact that NFA= FA-AD, show that the expression given in the chapter for net capital spending, NFAend - NFAbeg + D (Where D is the depreciation expense during the year), is equivalent to FAend - FAbeg Use the following information for Clarington Inc. for Problems 24 and 25 (assume the tax rate is 34 percent) 2014 2015 Sales $11,573 $12,936 Depreciation 1.661 1,736 Cost of goods sold 3.979 4,707 Other expenses 946 824 interest 776 926 Cash 6,067 6,466 Accounts receivable 8,034 9.427 Short-term notes poyable 1,171 1,147 Long-term debt 20,320 24,696 Net fixed Ossets 50.888 54,273 4,384 4,644 Inventory 14,283 15,288 1,411 1,618 Accounts payable Dividends Calculating Cash Flow (L03) For 2015, calculate the cash flow from assets, cash flow to creditors, and cash flow to shareholders. 18