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A. $-4,190,000 B. $2,235,000 C. $-3,000,000 D. $2,505,000 E. $-1,640,000 The 2017 balance sheet of Kerber's Tennis Shop, Inc., showed $3 million in long-term debt,
A. $-4,190,000
B. $2,235,000
C. $-3,000,000
D. $2,505,000
E. $-1,640,000
The 2017 balance sheet of Kerber's Tennis Shop, Inc., showed $3 million in long-term debt, $770,000 in the common stock account, and $6.05 million in the additional paid-in surplus account. The 2018 balance sheet showed $4.2 million, $975,000, and $7.75 million in the same three accounts, respectively. The 2018 income statement showed an interest expense of $190,000. The company paid out $680,000 in cash dividends during 2018. If the firm's net capital spending for 2018 was $730,000, and the firm reduced its net working capital investment by $135,000, what was the firm's 2018 operating cash flow, or OCF? Multiple Choice $ 4,190,000 $-2,235,000 $-3,000,000Step by Step Solution
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