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Calculating Cash Flows Mitchell Industries had the following operating results for 2 0 1 4 ; sales $ 3 4 , 3 0 0 ;

Calculating Cash Flows Mitchell Industries had the following operating results for 2014; sales $34,300; cost of goods sold = $21,200; depreciation expense = $3,560; interest expense $810; dividends paid =$1,750. At the beginning of the year, net fixed assets were $21,160, current assets were $5,260, and current liabilities were $3,520. At the end of the year, net fixed assets were $27,390, current assets were $5,940, and current liabilities were $3,720. The tax rate for 2014 was
40 percent.
a. What was net income for 2014?
b. What was the operating cash flow for 2014?
c. What was the cash flow from assets for 2014? Is this possible? Explain.
d. If no new debt was issued during the year, what was the cash flow to creditors? What was the cash flow to stockholders? Explain and interpret the positive and negative signs of your answers in
(a) through (d).

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