You are given the below data for a company. Using this data, calculate:

a. Operating cash flow using the indirect method (show components with calculations for partial credit)

b. Cash from Investing Activities (show calculations)

c. Cash from Financing Activities (show components with calculations for partial credit)

d. Tax Rate

e. Free cash flow to firm (show components with calculations for partial credit) AND interpret what it means.

f. Free cash flow to equity (show components with calculations for partial credit) AND interpret what it means.

		Income statement 2020
Sales			70,000.00
COGS			- 50,000.00
Depreciation expense			- 1,200.00
Sales, General, Admin expense			- 5,000.00
R&D Expense			- 350.00
Wages and salary expense			- 1,000.00
Other operating expenses			- 300.00
EBIT			12,150.00
Interest expense			- 1,200.00
EBT			10,950.00
Income tax expense			2,737.50
Net Income			13,687.50

Balance sheet
				2019		2020
Assets
Cash				1,100.00		1,400.00
A/R				440.00		750.00
Inventory				700.00		910.00
Prepaid expenses				200.00		240.00
Current assets total				2,440.00		3,300.00
Fixed assets				2,500.00		3,300.00
Accumulated depreciation				1,000.00		2,200.00
Total Assets				3,940.00		4,400.00
Liabilities
Accounts Payable				340.00		400.00
Interest Payable				400.00		420.00
Salary and Wages Payable				310.00		290.00
Other current liabilities payable				70.00		60.00
Income tax payable				80.00		100.00
Tota Current Liabilities				1,200.00		1,270.00
Long Term Debt				700.00		820.00
Common Stock				1,840.00		1,670.00
Retained Earnings				200.00		640.00
Total Shareholders Equity				2,040.00		2,310.00
Total Liabilities and Shareholders Equity				3,940.00		4,400.00