1. Use the information in the table below to construct an income statement for 2014 and balance sheets for 2014 and 2015. Then, find Operating Cash Flow, change in Net Working Capital, Net Capital Spending, Cash Flow to Creditors, Cash Flow to Shareholders, and Free Cash Flow. The tax rate is 34% and the plowback ratio is 60%.

	2014	2015
Sales		1500
Costs of Goods Sold		650
Depreciation Expense		200
Interest Expense		75
Total Fixed Assets	2000	3000
Accumulated Depreciation	400	Can be determined from the information provided
Total Current Assets	550	650
Total Current Liabilities	400	500
Long-term Debt	600	700
Common Stock	600	Can be determined from the information provided.