You are looking at Jack's Shoes' accounting statements. Jack's Shoes has net income of $16,900 in 2003
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You are looking at Jack's Shoes' accounting statements. Jack's Shoes has net income of $16,900 in 2003 and owes $8,650 in taxes for the year. The company repaid $4,200 in loan principal and $650 in loan interest during the year. No new funds were borrowed. The depreciation expense is $420.
What is the operating cash flow for the year?
a. $17,970
b. $19,370
c. $20,670
d. $28,670
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