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Calculate the financing cash flows using the following table. (Round to the nearest dollar. NOTE: Input cash inflows as positive values and cash outflows as negative values.) FINANCING CASH FLOWS Financing cash flows The firm generated positive cash flows from operations, which were more then used to invest in additional working capital and fixed assets. This resulted in negative free cash flows, which had to be covered by acquiring more money from preferred stockholders. Is the above statement true or false? . (Select from the drop-down menu.) Choose from any list or enter any number in the input fields and then continue to the next questionAbrahams Manufacturing Company Income Statement for the Year Ended 12/31/2015 2015 Sales Cost of goods sold Gross profit Selling, general and administrative expenses Depreciation expense Operating income Interest expense Earnings before taxes Taxes Preferred stock dividends Earnings available to common stockholders $185,000 56,000 $129,000 47,000 29,000 $53,000 3,800 $ 49,200 15,744 12,000 $21,4560,000 Mortgage payable Preferred stock Common stock Retained earnings lotal debt and equity 205,000 45,000 $ 473,000 0 120,000 205,000 48,000 $ 526,000Abrahams Manufacturing Company Balance Sheet for 12/31/2014 and 12/31/2015 2014 2015 Cash Accounts receivable Inventory Prepaid expenses Total current assets Gross plant and equipment Accumulated depreciation Total assets Accounts payable Accrued liabilities lotal current debt Mortgage payable Preferred stock $89,000 64,000 112,000 10,000 $ 275,000 238,000 (40,000) $ 473,000 $85,000 68,000 $ 153,000 70,000 0 $ 106,000 69,300 97,700 10,000 $ 283,000 312,000 (69,000) $ 526,000 $ 91,000 62,000 $ 153,000 0 120,000(Computing free cash flows and financing cash flows) Use the balance sheet, EEB, and income statement, .for Abrahams Manufacturing Company to compute the firms free cash flows and the financing cash flows, and interpret your results Additional Informatiorn 1. The only entry in the accumulated depreciation account is for 2015 depreciation 2. The firm paid $18,456 in common stock dividends during 2015 Calculate the free cash flows using the following table. (Round to the nearest dollar. NOTE: Input cash inflows as positive values and cash outflows as negative values.) FREE CASH FLOWS After-tax cash flows from operations After-tax cash flows from operations Change in net operating working capital Increase in net operating working capitalPLEASE ANSWER ALL PARTS OF THIS QUESTION

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