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Logano Driving School's 2017 balance sheet showed net fixed assets of $4.5 million, and the 2018 balance sheet showed net fixed assets of $6 million.
Logano Driving School's 2017 balance sheet showed net fixed assets of $4.5 million, and the 2018 balance sheet showed net fixed assets of $6 million. The company's 2018 income statement showed a depreciation expense of $885,000. What was net capital spending for 2018 ? Multiple Choice $1,500,000 $615,000 $2,385,000 $615,000 Martinez Industries had the following operating results for 2021 : Sales =$34,318; Cost of goods sold =$24,212; Depreciation expense =$5,997; Interest expense =$2,710; Dividends paid =$1,996. At the beginning of the year, net fixed assets were $19,940, current assets were $7,054, and current liabilities were $3,992. At the end of the year, net fixed assets were $24,502, current assets were $8,684, and current liabilities were $4,673. The tax rate for 2021 was 22 percent a. What is net income for 2021 ? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) b. What is the operating cash flow for 2021 ? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) c. What is the cash flow from assets for 2021 ? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) d-1. If no new debt was issued during the year, what is the cash flow to creditors? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) d-2. If no new debt was issued during the year, what is the cash flow to stockholders? (A negative answer should be indicated by a minus sign. Do not round intermediate
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