Question
In 2018, a company had depreciation expense of $600 and interest expense of $350. Dividends paid during the year were $575 and the addition to
In 2018, a company had depreciation expense of $600 and interest expense of $350. Dividends paid during the year were $575 and the addition to retained earnings for the year was $525. At the beginning of the year, long-term debt was $5,500 and owner's equity was $17,500. At the end of the year, long-term debt was $5,000 and owner's equity was $17,000. What is the cash flow to creditors for 2018?
Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit any commas and the $ sign in your response. For example, an answer of $1,,000.50 should be entered as 1,000.50.
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