Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Martinez Industries had the following operating results for 2 0 2 1 : Sales = $ 3 a . Net income b . Operating cash

Martinez Industries had the following operating results for 2021: Sales = $3a. Net income
b. Operating cash flow
c. Cash flow from assets
d-1. Cash flow to creditors
d-2. Cash flow to stockholders3,611; Cost of goods sold = $23,869; Depreciation expense = $5,927; Interest expense = $2,675; Dividends paid = $1,933. At the beginning of the year, net fixed assets were $19,870, current assets were $7,005, and current liabilities were $3,950. At the end of the year, net fixed assets were $24,439, current assets were $8,642, and current liabilities were $4,610. The tax rate for 2021 was 25 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 calculations and round your answer to the nearest whole number, e.g.,32.)
image text in transcribed

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_2

Step: 3

blur-text-image_3

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

Financial Markets And Institutions

Authors: Anthony Saunders, Marcia Cornett

4th Edition

0077262379, 978-0077262372

More Books

Students also viewed these Finance questions

Question

How can we confi rm both ourselves and others?

Answered: 1 week ago