Q2 C. (20 Marks) A. CANADIAN ENTERPRISES 2015 Income Statement ($ millions) Net sales $ 1,509 Cost of goods sold 750 Depreciation 65 Earnings before interest and taxes $ 694 Interest paid 70 Income before taxes $ 624 Taxes 250 Net income $ 374 Addition to retained earnings $309 Dividends 65 Balance Sheet of Canadian Enterprises 2014 2015 2014 2015 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 114 $ 160 Accounts payable $ 232 $ 266 Accounts receivable 445 688 Notes payable 196 123 Inventory 553 555 Total $ 428 $ 389 Total $1.112 $ 1.403 Long-term debt $ 408 $ 454 Fixed assets Owners' equity Net, plant and equipment $ 1.644 $ 1.709 Common shares 600 640 Retained earnings 1.320 1.629 Total $ 1.920 $ 2.269 Total assets $ 2.756 3.112 Total liabilities and owners' equity $ 2.756 $ 3.112 Calculate the following from the above Financial Statements (10 Marks) 1) Operating Cash Flow 2) Net Capital Spending 3) Changes in Net Working Capital