Consider the balance sheets and selected data from the income statement of Keith Corporation that follow Assets This year Last year Cash $1,480 $1,000 Marketable securities 1,830 1,170 Accounts receivable 1,960 1,830 Inventories 2,850 2,780 Total current assets $8,120 $6,780 Gross fixed assets $29,540 $28,110 Less: Accumulated depreciation 14,680 13,110 Net fixed assets $14,860 $15,000 Total assets $22,980 $21,780 Liabilities and Stockholders' Equity Accounts payable $1,650 $1,540 Notes payable 2,850 2,210 Accruals 190 310 Total current liabilities $4,690 $4,060 Long-term debt $4,870 $4,840 Common stock $10,050 $10,050 Retained earnings 3,370 2,830 Total stockholders' equity $13,420 $12,880 Total liabilities and stockholders' equity $22,980 $21,780 Depreciation expense $1,570 Earnings before interest and taxes (EBIT) 2,710 Interest expense 367 Net profits after taxes 1,851 Tax rate 21% a. Calculate the firm's net operating profit after taxes (NOPAT) for . b. Calculate the firm's operating cash flow (OCF) for the year. c. Calculate the firm's free cash flow (FCF) for the year. d. Interpret, compare and contrast your cash flow estimate in parts (b) and (c). Question content area bottom Part 1 a. The net operating profit after taxes is $ 1290. (Round to the nearest dollar.) Part 2 b. The operating cash flow (OCF) is $ 3,900. (Round to the nearest dollar.) Part 3 c. The firm's free cash flow (FCF) is $ 2,770. (Round to the nearest dollar.) Part 4 d. Interpret, compare and contrast your cash flow estimate in parts (b) and (c). (Select all that apply.) A. Depreciation is approximately the same size as net operating profit after tax, so the operating cash flow is about twice the NOPAT. B. Keith Corporation has negative cash flows from operating activities. C. Keith Corporation has positive cash flows from operating activities. D. The OCF value is very meaningful because it shows that the cash flows from operations are adequate to cover both operating expense plus investment in fixed and current assets. E. The FCF value is very meaningful because it shows that the cash flows from operations are adequate to cover both operating expense plus investment in fixed and current assets.