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Cash Flow Identity. Graffiti Advertising, Inc., reported the following financial statements for the last two years. Construct the cash flow identity for the company. Explain what each number means.

2022 Income Statement
Sales	$ 825,420
Cost of goods sold	473,903
Selling and administrative	182,244
Depreciation	79,738
EBIT	$ 89,535
Interest	28,193
EBT	$ 61,342
Taxes	14,722
Net Income	$ 46,620
Dividends	$ 15,600
Addition to retained earnings	31,020

GRAFFITI ADVERTISING, INC
Balance Sheet as of December 31, 2021
Cash	$ 19,460	Accounts payable	$ 13,993
Accounts receivable	27,751	Notes payable	21,064
Inventory	20,153	Current liabilities	$ 35,057
Current assets	67,364	Long-term debt	$ 199,100
Net fixed assets	$ 503,199	Owners equity	$ 336,406
Total assets	$ 570,563	Total liabilities and owners equity	$ 570,563

GRAFFITI ADVERTISING, INC
Balance Sheet as of December 31, 2022
Cash	$ 20,903	Accounts payable	$ 15,358
Accounts receivable	30,828	Notes payable	24,059
Inventory	33,244	Current liabilities	$ 39,417
Current assets	$ 84,975	Long-term debt	$ 222,400
Net fixed assets	$ 593,199	Owners equity	$ 416,277
Total assets	$ 678,094	Total liabilities and owners equity	$ 678,094

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