Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

include all your work please 1- Noxcy trading had the following operating results for 2023: sales =$31,500; cost of goods sold = $22,900; depreciation expense

include all your work please
image text in transcribed
1- Noxcy trading had the following operating results for 2023: sales =$31,500; cost of goods sold = $22,900; depreciation expense =$4,610; interest expense =$715; dividends paid =$805. At the beginning of the year, net fixed assets were $20,452, current assets were $1,096, and current liabilities were $5,500. At the end of the year, net fixed assets were $22,287, current assets were $5,001, and current liabilities were $3,301. The tax rate for 2023 was 25 percent. a. What is the net income for 2023 ? b. What is the operating cash flow for 2023 ? c. What is the cash flow from assets for 2023 ? d. If no new debt was issued during the year, what is the cash flow to creditors for 2023 ? To calculate cash flow to creditors, subtract the ending long term debt and beginning long term debt from the total interest paid

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Foundations Of Financial Management

Authors: Stanley Block

8th Canadian Edition

0070965447, 9780070965447

More Books

Students also viewed these Finance questions

Question

Describe Hobbess position on epistemology.

Answered: 1 week ago