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- Martinez Industries had the following operating results for 2021: Sales = $34,520; Cost of goods sold = $24,310; Depreciation expense $6,017; Interest expense
- Martinez Industries had the following operating results for 2021: Sales = $34,520; Cost of goods sold = $24,310; Depreciation expense $6,017; Interest expense $2,720; Dividends paid = $2,014. At the beginning of the year, net fixed assets were $19,960, current assets were $7,068, and current liabilities were $4,004. At the end of the year, net fixed assets were $24,520, current assets were $8,696, and current liabilities were $4,691. The tax rate for 2021 was 24 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.) What is the cash flow from assets for 2021? (A negative answer should be C. - 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. ) a. Net income b. Operating cash flow c. Cash flow from assets d-1. Cash flow to creditors d-2. Cash flow to stockholders
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To answer these questions we will go through financial calculations based on the provided data a Net income for 2021 To calculate the net income we can use the following formula Net Income Sales Cost ...Get Instant Access to Expert-Tailored Solutions
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