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Cardinal Industries had the following operating results for 2018: Sales = $33,106; Cost of goods sold = $23,624; Depreciation expense = $5,877; Interest expense =
Cardinal Industries had the following operating results for 2018: Sales = $33,106; Cost of goods sold = $23,624; Depreciation expense = $5,877; Interest expense = $2,650; Dividends paid = $1,888. At the beginning of the year, net fixed assets were $19,820, current assets were $6,970, and current liabilities were $3,920. At the end of the year, net fixed assets were $24,394, current assets were $8,612, and current liabilities were $4,575. The tax rate for 2018 was 22 percent. | |
a. | What is net income for 2018? (Do not round intermediate calculations.) |
b. | What is the operating cash flow for 2018? (Do not round intermediate calculations.) |
c. | What is the cash flow from assets for 2018? (Do not round intermediate calculations. A negative answer should be indicated by a minus sign.) |
d-1. | If no new debt was issued during the year, what is the cash flow to creditors? (Do not round intermediate calculations.) |
d-2. | If no new debt was issued during the year, what is the cash flow to stockholders? (Do not round intermediate calculations. A negative answer should be indicated by a minus sign.) |
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