Question
Nanticoke Industries had the following operating results for 2020: sales $29,580; cost of goods sold = $19,610; depreciation expense = $5,140; interest expense = $2,490;
Nanticoke Industries had the following operating results for 2020: sales $29,580; cost of goods sold = $19,610; depreciation expense = $5,140; interest expense = $2,490; dividends paid = $1,300. At the beginning of the year, net assets were $17,030, current assets were $5,830, and current liabilities were $3,400. At the end of the year, net fixed assets were $20,510, current assets were $7,604, and current liabilities were $3,950. 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 $ 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 $
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