(a) Calculate Total Assets for 2015 and 2016. (b) Calculate Total Liabs for 2015 and 2016. (c) Calculate Retained Earnings on the balance sheet for 2016. (d) Calculate Owners Equity for 2015 and 2016. (e) What is the Net Working Capital from the beginning of 2016 to the end? (f) What is the Net Capital Spending in 2016? (g) What is the Cash Flow from Assets for 2016 (remembering that its equal to Operating Cash Flow Net Working Capital Net Capital Spending)? (h) What is the CF to Creditors for 16? (i) What is the CF to Stockholders for 16? (j) Verify that the Cash Flow Identity holds.

Balance Sheet Assets Cash Accts. Receivable Inventory Net Fixed Assets Liabilities Accounts Pavable Taxes Payable Long-term Notes Long-term Bonds Owners' Equity Common Stock Retained Earnings 2016 $18,000 $9,800 $1,100 $1,000 1,500 $4,600 1,200 $3,400 850 $2,550 $2,750 20152016 Income Stmt. Sales $11,120 $11,250 $2,380 $2,900 $800$440 $5,500$6,360 -Cost of Goods Sold SG&A Expenses - Marketing Expenses -Depreciation Ex Operating Income - Interest Ex $11,600 $11,500 $300$850 $1,800$1,250 $1,000 $1,450 Taxable Income - Tax Expense* Net Income -Dividend Exp. $4,000$5,000 $1,100 * the average tax rate is 25%