Question
Iggy Industries had the following operating results for 2014: Sales = $27,360; cost of goods sold = $19,260; depreciation expense = $1,395; interest expense =
Iggy Industries had the following operating results for 2014: Sales = $27,360; cost of goods sold = $19,260; depreciation expense = $1,395; interest expense = $2,190; dividends paid = $1,560; taxes paid = $1,598. Their basic financial statements also reveal the following: At the beginning of the year, net fixed assets were $16,380, current assets were $5,760, and current liabilities were $3,240. At the end of the year, net fixed assets were $20,496, current assets were $7,116, and current liabilities were $3,780. What is their cash flow from assets for 2014? Round to the nearest dollar.
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