Question 10 **

Below is the balance sheet for 2020 and 2021 and the income statement for 2021 for some company. Use the information to answer the questions below. Common Common- Base 2021 A. Balance Sheet 2020 2021 Size 2021 Assets Current assets Cash $34,385 $37,837 Accounts receivable 17,801 27,766 Inventory 36,310 42,632 Total $88,496 $108,235 Fixed assets Net plant and equipment $464,315 $519,633 Total assets $552,811 $627,868 Liabilities and Owners' Equity Current liabilities Accounts payable $36,722 $42,582 Notes payable 19,008 16,200 Other 19,864 24,634 Total $75,594 $83,416 Long-term debt $115,000 $145,000 Owners' equity Common stock/paid-in surplus $55,000 $55,000 307,217 344,452 Accumulated retained earnings Total $362,217 $399,452 Total liabilities and owners' equity $552,811 $627,868 B. Income Statement - 2021 Sales COGS EBITDA Depreciation/Amortization EBIT Interest Expense Taxable Income Taxes (25%) Net Income Dividends Retained Earnings $506,454 $147,126 $102,663 $82,980 $62,235 $25,000 $37,235 $359,328 $44,463 $19,683 $20,745 10. What is the firm's operating cash flow in 2021? 11. What is the firm's free cash flow (cash flow from assets) in 2021? 12. What is the firm's cash flow to creditors 2021? 13. What is the firm's cash flow to shareholders in 2021? Use the following table to answer question 14. Income Tax Rate $0-$50,000 15% $50,001-$75,000 20% $75,0010-$100,000 24% $100,001-$335,000 29% $335,001-$10,000,000 34% $10,000,001-$15,000,000 35% $15,000,001-$18,333,333 38% $18,333,334+ 40% 14. For a taxable income of $650,000, what is the effective tax rate? Round to the nearest 0.01%