Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Industries had the following operating results for 2015: sales = $26,819; cost of goods sold = $18,199; depreciation expense = $4,663; interest expense = $2,005;
Industries had the following operating results for 2015: sales = $26,819; cost of goods sold = $18,199; depreciation expense = $4,663; interest expense = $2,005; dividends paid = $1,770. At the beginning of the year, net fixed assets were $15,410, current assets were $5,918, and current liabilities were $3,054. At the end of the year, net fixed assets were $20,686, current assets were $7,880, and current liabilities were $3,186. The tax rate for 2015 was 33 percent. What is operating cash flow (OCF) for 2015? Round to nearest dollar
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