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1. Jack Galligan, Inc. has sales of $18,700, costs of $10,300, depreciation expense of $1,900, and interest expense of $1,250. If the tax rate is 40 percent, what is the operating cash flow? Also, compute tax shield of depreciation. 2. Istina Theaters' 2019 balance sheet showed net fixed assets of $1.42 million, and the 2020 balance sheet showed net fixed assets of $1.69 million. The company's 2020 income statement showed a depreciation expense of $145,000. What was company's net capital spending for 2020? 3. Joseph and Gunnar prepared the financial statements for Katelyn Fashions, Inc. for the year-end 2020. Income Statement 2020 Revenue $750 Expenses 565 Depreciation 90 Net Income 95 Dividends 75 Assets Cash Other current Assets Net fixed assets Balance Sheet December 31 2020 $ 65 170 390 $625 2019 $ 55 165 370 $590 Total Assets Liabilities and Equity Accounts payable $125 $115 Long-term debt 145 140 Stockholders' equity 355 335 Total liabilities and equity $625 $590 a. Compute operating cash flow for this company b. Determine the change in net working capital in 2020 C. Compute total cash flows generated by firm's assets for the year 2020