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Cash flow to creditors. Use the data from the following financial statements in the popup window. The company paid interest expense of $17,100 for 2017
Cash flow to creditors. Use the data from the following financial statements in the popup window. The company paid interest expense of $17,100 for 2017 and had an overall tax rate of 40% for 2017. Find the cash flow to creditors for 2017 by parts and total, with the parts being interest expense and increases or decreases in borrowing (long-term debt). The interest expense for the year is $(Round to the nearest dollar) (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Income Statement Year Ending 2017 Salas revenue $349,800 Cost of goods sold $141,900 Fixed costs $43,200 Selling, general, and administrative expenses $27,800 Depreciation $45,900 (Click on the following icon ASSETS Cash Accounts receivable in order to copy its contents into a spreadsheet.) Partlal Balance Sheet 12/31/2016 LIABILITIES $16,200 Noles payable $28,000 Accounts payable $48,200 Long-term debt $368,200 OWNERS' EQUITY $142,900 Retained earnings $82,100 Common stock $14,000 $19,100 $190,200 Inventories Fixed assets Accumulated depreciation Intangible assets $131,900 (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2017 ASSETS LIABILITIES Cash $12,200 $23,800 $162,100 Accounts receivable Inventories Fixed assets Accumulated depreciation Intangible assets $26,100 Noles payable $18,800 Accounts payable $53,000 Long-term debt $448,000 OWNERS' EQUITY Retained earnings $82,200 Common stock $181,900
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