Reference the following financial information for Vikings Corp:

	2013	2014
Revenue	$4,000	$4,100
Cost of goods sold	1,600	1,700
Depreciation	500	520
Inventories	300	350
Administrative expenses	500	550
Interest expense	150	150
Federal and state taxes (1)	400	420
Accounts payable	300	350
Accounts receivable	400	450
Net fixed assets (2)	5,000	5,800
Long-term debt	2,000	2,400
Notes payable	1,000	600
Dividends paid	410	410
Cash and marketable securities	800	300

(1) Taxes are paid in their entirety in the year that the tax obligation is incurred. (2) Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed.

Required:

1) Income vs. Cash Flows. Construct a Statement of Cash Flows for 2014.

2) Tax Rate. What was the firms average tax rate for each year?