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B c D 2 4 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Using the unweighted average net income below, calculate the net cash flows to equity. Assume non-cash charges are $400,000, capital expenditures are $300,000, additions to working capital are $100,000, long- tenn bonowings are $-0-, and long-tenn debt repayments are $100, 000. 2022 2021 2020 2019 2018 Unweighted average (Rounded) nonnalized net income Sample Company Unweighted Net Cash Flows to Equity December 31, 2022 Unweighted average adjusted net income Non-cash charges (e.g. depreciation, amortization, defened revenue, defened taxes) Capital expenditures necessary- to suppolt projected operations (Additions) deletions to net working capital necessary- to suppolt projected operations Changes in long-tenn debt from bonowing necessary- to suppolt projected operations Changes in long-tenn debt for repayments necessary- to suppolt projected operations Unweighted net cash flows to equity 836,342 521,057 707,770 721,829

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