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Cardinal Industries had the following operating results for 2018: Sales = $34,217; Cost of goods sold = $24,163; Depreciation expense = $5,987; Interest expense =
Cardinal Industries had the following operating results for 2018: Sales = $34,217; Cost of goods sold = $24,163; Depreciation expense = $5,987; Interest expense = $2,705; Dividends paid = $1,987. At the beginning of the year, net fixed assets were $19,930, current assets were $7,047, and current liabilities were $3,986. At the end of the year, net fixed assets were $24,493, current assets were $8,678, and current liabilities were $4,664. The tax rate for 2018 was 21 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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