Question
A company's 2020 statement of comprehensive income showed depreciation expense of $1,500,000 and interest expense of $750,000. The addition to retained earnings for the year
A company's 2020 statement of comprehensive income showed depreciation expense of $1,500,000 and interest expense of $750,000. The addition to retained earnings for the year was $1,275,000 and dividends paid during the year were $1,425,000. At the beginning of the year, the company's long-term debt was $12,000,000 and owner's equity was $49,500,000. At the end of the year, the company's long-term debt was $13,500,000 and owner's equity was $48,000,000. What is this company's cash flow to shareholders for 2020?
Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit any commas and the $ sign in your response. For example, an answer of $1,000.50 should be entered as 1000.50.
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