Question
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
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.)
Cusic Industries had the following operating results for 2015: sales = $30,060; cost of goods sold = $20,010; depreciation expense = $5,460; interest expense = $2,940; dividends paid = $1,700. At the beginning of the year, net fixed assets were $17,260, current assets were $5,910, and current liabilities were $3,450. At the end of the year, net fixed assets were $20,910, current assets were $7,390, and current liabilities were $4,040. The tax rate for 2015 was 30 percent.
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