Question

Graffiti Advertising, Inc., reported the following financial statements for the last two years.

2019 Income Statement
Sales	$	568,200
Costs of goods sold		273,995
Selling & administrative		124,727
Depreciation		54,570
EBIT	$	114,908
Interest		19,428
EBT	$	95,480
Taxes		38,192
Net income	$	57,288
Dividends	$	10,200
Addition to retained earnings	$	47,088

GRAFFITI ADVERTISING, INC. Balance Sheet as of December 31, 2018
Cash	$	13,380	Accounts payable	$	9,498
Accounts receivable		18,988	Notes payable		14,502
Inventory		13,800
			Current liabilities	$	24,000
Current assets	$	46,168	Long-term debt	$	136,320
Net fixed assets	$	344,606	Owners' equity	$	230,454
Total assets	$	390,774	Total liabilities and owners’ equity	$	390,774

GRAFFITI ADVERTISING, INC. Balance Sheet as of December 31, 2019
Cash	$	14,366	Accounts payable	$	10,518
Accounts receivable		21,093	Notes payable		16,472
Inventory		22,760
			Current liabilities	$	26,990
Current assets	$	58,219	Long-term debt	$	152,600
Net fixed assets	$	406,305	Owners' equity	$	284,934
Total assets	$	464,524	Total liabilities and owners’ equity	$	464,524

a.	Calculate the operating cash flow. (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
b.	Calculate the change in net working capital. (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
c.	Calculate the net capital spending. (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
d.	Calculate the cash flow from assets. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
e.	Calculate the cash flow to creditors. (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
f.	Calculate the cash flow to stockholders. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

Answer 1

rate please