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A company's 2018 statement of comprehensive income showed interest expense of $1,125,000 and depreciation expense of $2,250,000. Dividends paid during the year were $2,138,000 and
A company's 2018 statement of comprehensive income showed interest expense of $1,125,000 and depreciation expense of $2,250,000. Dividends paid during the year were $2,138,000 and the addition to retained earnings for the year was $1,913,000. At the start of the year, the company's owner's equity was $74,250,000 and long-term debt was $18,000,000 while at the end of the year its owner's equity was $72,000,000 and long-term debt was $18,750,000. What is the company's cash flow to creditors for 2018?
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