Question
Keith Corporation Balance Sheets December 31 Assets 2015 2014 Cash $ 1,500 $ 1,000 Marketable securities 1,800 1,200 Accounts receivable 2,000 1,800 Inventories 2,900 2,800
Keith Corporation Balance Sheets | |||
---|---|---|---|
| December 31 | ||
Assets | 2015 | 2014 | |
Cash | $ 1,500 | $ 1,000 | |
Marketable securities | 1,800 | 1,200 | |
Accounts receivable | 2,000 | 1,800 | |
Inventories | 2,900 | 2,800 | |
Total current assets | $ 8,200 | $ 6,800 | |
Gross fixed assets | $29,500 | $28,100 | |
Less: Accumulated depreciation | 14,700 | 13,100 | |
Net fixed assets | $14,800 | $15,000 | |
Total assets | $23,000 | $21,800 | |
Liabilities and stockholders equity | |||
Accounts payable | $ 1,600 | $ 1,500 | |
Notes payable | 2,800 | 2,200 | |
Accruals | 200 | 300 | |
Total current liabilities | $ 4,600 | $ 4,000 | |
Long-term debt | 5,000 | 5,000 | |
Total liabilities | $ 9,600 | $ 9,000 | |
Common stock | $10,000 | $10,000 | |
Retained earnings | 3,400 | 2,800 | |
Total stockholders equity | $13,400 | $12,800 | |
Total liabilities and stockholders equity | $23,000 | $21,800 | |
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Keith Corporation Income Statement Data (2015) | |||
Depreciation expense | $1,600 | ||
Earnings before interest and taxes (EBIT) | 2,700 | ||
Interest expense | 367 | ||
Net profits after taxes | 1,400 | ||
Tax rate | 40% | ||
Calculate the firm's operating cash flow (OCF) for the year ended December 31, 2015 Please show formulas
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