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5. Gordon Driving School's 2009 balance sheet showed net fixed assets of $1.65 million, and the 2010 balance sheet showed net fixed assets of $1.73
5. Gordon Driving School's 2009 balance sheet showed net fixed assets of $1.65 million, and the 2010 balance sheet showed net fixed assets of $1.73 million. The company's 2010 income statement showed a depreciation expense of $284,000. What was Gordon's net capital spending for 2010? 6. The 2009 balance sheet of Anna's Tennis Shop, Inc., showed long term debt of $1.34 million, and the 2010 balance sheet showed long-term debt of $1.39 million. The 2010 income statement showed an interest expense of $118,000. What was the firm's cash flow to creditors during 2010? 7. The 2009 balance sheet of Anna's Tennis Shop, Inc., showed $430,000 in the common stock account and $2.6 million in the additional paid-in surplus account. The 2010 balance sheet showed $450,000 and $3.05 million in the same two accounts, respectively. If the company paid out $385,000 in cash dividends during 2010, what was the cash flow to stockholders for the year? 8. Given the information for Anna's Tennis Shop, Inc., in the previous two problems, suppose you also know that the firm's net capital spending for 2010 was $875,000 and that the firm reduced its net working capital investment by $69,000. What was the firm's 2010 operating cash flow, or OCF
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