Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Nanticoke Industries had the following operating results for 2018: sales $29,000; cost of goods sold = $19,710; depreciation expense = $5,220; interest expense = $2,640;

image text in transcribed

Nanticoke Industries had the following operating results for 2018: sales $29,000; cost of goods sold = $19,710; depreciation expense = $5,220; interest expense = $2,640; dividends paid = $1,400. At the beginning of the year, net fixed assets were $17,330, current assets were $5,850, and current liabilities were $3,300. At the end of the year, net fixed assets were $20,610, current assets were $7,150, and current liabilities were $3,970. The tax rate for 2018 was 30 %. a. What is net income for 2018? (Negative answers should be indicated by a minus sign. Omit $ sign in your response.) Net income b. What is the operating cash flow for 2018? (Negative answers should be indicated by a minus sign. Omit $ sign in your response.) Operating cash flow c. What is the cash flow from assets for 2018? (Negative answer should be indicated by a minus sign. Omit $ sign in your response.) Cash flow from assets 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 to Expert-Tailored 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

Introduction To The Financial Management Of Healthcare Organizations

Authors: Michael Nowicki

7th Edition

156793904X, 9781567939040

More Books

Students also viewed these Finance questions

Question

Why is the V and V strategy important?

Answered: 1 week ago

Question

Determine miller indices of plane X z 2/3 90% a/3

Answered: 1 week ago