Question
Cusic Industries had the following operating results for 2015: sales = $27,660; cost of goods sold = $19,310; depreciation expense = $4,900; interest expense =
Cusic Industries had the following operating results for 2015: sales = $27,660; cost of goods sold = $19,310; depreciation expense = $4,900; interest expense = $2,190; dividends paid = $1,000. At the beginning of the year, net fixed assets were $16,530, current assets were $5,770, and current liabilities were $3,270. At the end of the year, net fixed assets were $20,210, current assets were $7,116, and current liabilities were $3,810. The tax rate for 2015 was 35 percent. |
a. | What was net income for 2015? (Do not round intermediate calculations.) |
b. | What was the operating cash flow for 2015? (Do not round intermediate calculations.) |
c. | What was the cash flow from assets for 2015? (Do not round intermediate calculations. A negative answer should be indicated by a minus sign.) |
d. If no new debt was issued during the year, what was the cash flow to creditors? (Do not round intermediate calculations.) |
e. If no new debt was issued during the year, what was the cash flow to stockholders? (Do not round intermediate calculations. A negative answer should be indicated by a minus sign.) |
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