9. Current Accounts

2015: Current Assets= 4,400; Current Liabilities = 1,500

2014: Current Assets = 3,500; Current Liabilities = 1,200

Fixed Assets and Depreciation

2015: Net Fixed Assets = 3,400; 2014: Net Fixed Assets = 3,100

Depreciation Expense = 400

Long-term Debt and Equity (Retained Earnings not given)

2015: Long-term Debt = 4,000; Common stock & Additional paid in capital = 400

2014: Long-term Debt = 3,950; Common stock & Additional paid in capital = 400

Income Statement

Earnings Before Interest and Taxes= 2,000; Taxes = 300

Interest Expense = 350; Dividends = 500

Use the information above to calculate (15 points)

a) Operating cash flow

b) Net capital spending

c) Changes in net working capital