Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

39 The 2020 balance sheet of Osaka's Tennis Shop, Incorporated, showed long-term debt of $2.9 million, and the 2021 balance sheet showed long-term debt

image text in transcribed

39 The 2020 balance sheet of Osaka's Tennis Shop, Incorporated, showed long-term debt of $2.9 million, and the 2021 balance sheet showed long-term debt of $3.1 million. The 2021 income statement showed an interest expense of $145,000. During 2021, the company had a cash flow to creditors of -$55,000 and the cash flow to stockholders for the year was $80,000. Suppose you also know that the firm's net capital spending for 2021 was $1.33 million and that the firm reduced its net working capital investment by $61,000. What was the firm's 2021 operating cash flow, or OCF? (Enter your answer in dollars, not millions of dollars, e.g., 1,234,567.) ces Operating cash flow

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Derivatives Markets

Authors: Rober L. Macdonald

4th edition

321543084, 978-0321543080

More Books

Students also viewed these Finance questions