Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Over the past year, American Enterprises paid $368,000 in interest along with $58,800 in dividends. The company issued $221,000 of stock and $205,400 of new
Over the past year, American Enterprises paid $368,000 in interest along with $58,800 in dividends. The company issued $221,000 of stock and $205,400 of new debt. The company reduced the balance due on the old debt by $228,600. What is the amount of the cash flow to creditors?
Responses
$344,800
$392,500
$346,100
$391,200
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started