Question
he 2018 balance sheet of Speiths Golf Shop, Inc., showed long-term debt of $6.4 million, and the 2019 balance sheet showed long-term debt of $6.65
he 2018 balance sheet of Speiths Golf Shop, Inc., showed long-term debt of $6.4 million, and the 2019 balance sheet showed long-term debt of $6.65 million. The 2019 income statement showed an interest expense of $225,000. The 2018 balance sheet showed $630,000 in the common stock account and $4.9 million in the additional paid-in surplus account. The 2019 balance sheet showed $670,000 and $5.4 million in the same two accounts, respectively. The company paid out $620,000 in cash dividends during 2019. Suppose you also know that the firms net capital spending for 2019 was $1,490,000, and that the firm redu
ced its net working capital investment by $93,000. |
What was the firms 2019 operating cash flow, or OCF? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. |
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