The December 31, 1998, balance sheet of Pearl Jelly, Inc., showed long-term debt of ($2) million, and

Question:

The December 31, 1998, balance sheet of Pearl Jelly, Inc., showed long-term debt of $$2$ million, and the December 31, 1999, balance sheet showed long-term debt of $$2.9$ million. The 1999 income statement showed an interest expense of $$700,000.$ What was the firm’s cash flow to creditors during 1999?

Fantastic news! We've Found the answer you've been seeking!