Question
Cusic Industries had the following operating results for 2010; sales = $14,080; cost of goods sold = $11,440; depreciation expense = $2,090; interest expense =
Cusic Industries had the following operating results for 2010; sales = $14,080; cost of goods sold = $11,440; depreciation expense = $2,090; interest expense = $495; dividends paid = $550. At the beginning of the year, net fixed assets were $10,010, current assets were $3,520, and current liabilities were $1,980. At the end of the year, net fixed assets were $10,670, current assets were $4,235, and current liabilities were $2,310. The tax rate for 2010 was 32 percent. (Do not include the dollar signs ($). Negative amounts should be indicated by a minus sign. Round your answers to 2 decimal places. (e.g., 32.16))
a. | Net income for 2010 is $ . |
b. | The operating cash flow for 2010 is $ . |
c. | The cash flow from assets for 2010 is $ . Is this possible? (Click to select)YesNo. |
d. | If no new debt was issued during the year, the cash flow to creditors is $ and the cash flow to stockholders is $ . |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started