Question
Cusic Industries had the following operating results for 2021: sales = $19,900; cost of goods sold = $14,200; depreciation expense = $2,700; interest expense =
Cusic Industries had the following operating results for 2021: sales = $19,900; cost of goods sold = $14,200; depreciation expense = $2,700; interest expense = $670; dividends paid = $650. At the beginning of the year, net fixed assets were $15,340, current assets were $4,420, and current liabilities were $2,470. At the end of the year, net fixed assets were $16,770, current assets were $5,135, and current liabilities were $2,535. The tax rate for 2021 was 40 percent. a. What is the net income for 2021? (Negative amount should be indicated by a minus sign. Omit $ sign in your response.) Net income $ b. What is the operating cash flow for 2021? (Negative amount should be indicated by a minus sign. Omit $ sign in your response.) Operating cash flow $ c. What is the cash flow from assets for 2021? (Negative amount should be indicated by a minus sign. Omit $ sign in your response.) Cash flow from assets $ d-1. If no new debt was issued during the year, what is the cash flow to creditors? (Negative amount should be indicated by a minus sign. Omit $ sign in your response.) Cash flow to creditors $ d-2. If no new debt was issued during the year, what is the cash flow to shareholders? (Negative amount should be indicated by a minus sign. Omit $ sign in your response.) Cash flow to shareholders $
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