Answered step by step
Verified Expert Solution
Link Copied!

Question

...
1 Approved Answer

Nanticoke Industries had the following operating results for 2 0 2 0 : Sales = $ 2 9 , 5 0 0 : Cost of

Nanticoke Industries had the following operating results for 2020:
Sales = $29,500: Cost of goods sold = $19,760: Depreciation expense =\$5.260 Interest expense =S2.640 Dividends paid = $1,450.
At the beginning of the year, Net fixed assets =\$170R0 Current assets \$5.860. Current liabilities = $3,325.
At the end of the year, Net fixed assets =\$20,660 Current assets =\$7.300 Current liabilities =\$3.980
The tax rate for 2020 was 35%.
a. What is net Income for 2020?(Negative answer should be indicated by a minus sign. Omit $ sign in your response.)
Net income $
b. What is the operating cash flow for 2020?(Negative answer should be indicated by a minus sign. Omit $ sign in your response.)
Operating cash flow
c. What is the cash flow from assets for 2020?(Negative answer should be indicated by a minus sign. Omit $ sign in your response.)
Cash flow from assets
S
d. If no new debt was issued during the year, what is the cash flow to creditors? What is the cash flow to shareholders? (Negative answers should be indicated by a minus sign. Omit $ sign in your response.)
Cash flow to creditors
Cash flow to shareholders

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

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 ACCT2

Authors: Norman H. Godwin, C. Wayne Alderman

2nd edition

978-1111530761

Students also viewed these Finance questions