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Cardinal Industries had the following operating results for 2018: Sales = $34,924; Cost of goods sold = $24,506; Depreciation expense = $6,057; Interest expense =
Cardinal Industries had the following operating results for 2018: Sales = $34,924; Cost of goods sold = $24,506; Depreciation expense = $6,057; Interest expense = $2,740; Dividends paid = $2,050. At the beginning of the year, net fixed assets were $20,000, current assets were $7,096, and current liabilities were $4,028. At the end of the year, net fixed assets were $24,556, current assets were $8,720, and current liabilities were $4,727. The tax rate for 2018 was 23 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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