Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Nanticoke Industries had the following operating results for 2020 : sales $28,260; cost of goods sold = $19,410, depreciation expense =$4,980; interest expense =$2,340; dividends

image text in transcribed

Nanticoke Industries had the following operating results for 2020 : sales $28,260; cost of goods sold = $19,410, depreciation expense =$4,980; interest expense =$2,340; dividends paid =$1,100. At the beginning of the year, net assets were $16,830, current assets were $5,790, and current liabilities were $3,240. At the end of the year, net fixed assets were $20,310, current assets were $7,116, and current liabilities were $3,870. The tax rate for 2020 was 30%. 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 If no new debt was issued during the year, what is the cash flow to creditors? What is the cash flow hareholders? (Neaative answers should be indicated bv a minus sian. Omit $ sian in vour resoons

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

Rockin Your Business Finances

Authors: Chrstine Odle

1st Edition

0999135104, 9780999135105

More Books

Students also viewed these Finance questions

Question

consider how qualitative data can add value to your research;

Answered: 1 week ago

Question

consider the use of electronically obtained qualitative data;

Answered: 1 week ago