Answered step by step
Verified Expert Solution
Question
1 Approved Answer
hello. really need help with this one. The December 31, 2021, balance sheet of Chen, Incorporated, showed long-term debt of $1,420,000,$144,000 in the common stock
hello. really need help with this one.
The December 31, 2021, balance sheet of Chen, Incorporated, showed long-term debt of $1,420,000,$144,000 in the common stock account, and $2,690,000 in the additional paid-in surplus account. The December 31, 2022, balance sheet showed longterm debt of $1,620,000,$154,000 in the common stock account and $2,990,000 in the additional paid-in surplus account. The 2022 income statement showed an interest expense of $96,000 and the company paid out $149,000 in cash dividends during 2022. The firm's net capital spending for 2022 was $1,000,000, and the firm reduced its net working capital investment by $129,000. What was the firm's 2022 operating cash flow, or OCF? Note: A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32 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