*PLEASE PROVIDE ALL SOLUTIONS USING MICROSOFT EXCEL AND ANY NECESSARY FORMULAS, thank you!*

Financial information on AAA Ltd. is shown below.

AAA Ltd. Income Statement
For the Year Ended December 31st,
	2018	2017
Sales	4,215,750	3,850,000
Cost Of Goods Sold	2,178,700	2,016,320
Other Expenses	1,005,200	986,500
Depreciation	9,800	8,550
Earnings Before Interest and Taxes	1,022,050	838,630
Interest Expense	56,735	46,870
Earnings Before Taxes	965,315	791,760
Taxes (30%)	289,595	237,528
Net Income	$ 675,721	$ 554,232

AAA Ltd. Balance Sheet
As at December 31st,
ASSETS	2018	2017
Cash & Equivalent	50,750	23,180
Short-term investments	202,834	186,014
Inventories	1,458,841	1,355,047
Accounts Receivable	218,500	131,221
Total Current Assets	1,930,925	1,695,462
Prop, Plant & Equip - Net	2,154,301	1,940,594
Total Assets	$ 4,085,226	$ 3,636,056
LIABILITIES & EQUITY
Accounts Payable	267,566	258,151
Notes Payable	82,823	62,310
Accruals	58,559	31,210
Short-term Debt	314,469	317,416
Total Current Liabilities	723,417	669,087
Long-Term Debt	833,547	844,139
Total Liabilities	1,556,964	1,513,226
Common Share Capital	650,000	650,000
Retained Earnings	1,878,263	1,472,830
Total Equity	2,528,263	2,122,830
Total Liabilities and Equity	$ 4,085,226	$ 3,636,056

Answer the following questions. Please note: short-term investments are non-operating current assets; notes payable and short-term debt are non-operating current liabilities.

1. What is Operating Cash Flow for 2018?

2. What is Free Cash Flow for 2018?

3. The stock is traded at $30 per share at the end of 2018 and there are 100,000 shares outstanding. What is MVA during 2018?

4. Given the firms WACC is 10%, what is EVA during 2018?

5. Create common size income statement and balance sheet for both 2018 and 2017.

6. Create income statement and balance sheet percentage change analysis for 2018. (Use 2017 as the base year)