Reference no: EM132552130

Below are the key figures for the company Ivankovic over the last five years.

                                             1                 2            3             4              5

Fixed assets                 100           110         120       130      140

Working capital             200             225         250     280      315

EBITDA                        38              40           44         48       52

Depreciation/amortization 10           10          11               12       13

Financial expense            14            15         17                 19   22

Income tax expense       7                 7.5      8                   8      8.5

Dividends                     5                   5        5                6           6

Question 1: Draw up the cash flow statement for years two to five. State your views.