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P2-12 Calculating Total Cash Flows [LO4] The 2017 balance sheet of Kerber's Tennis Shop, Incorporated, showed $2.85 million in long-term debt, $760,000 in the common

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P2-12 Calculating Total Cash Flows [LO4] The 2017 balance sheet of Kerber's Tennis Shop, Incorporated, showed $2.85 million in long-term debt, $760,000 in the common stock account, and $6.45 million in the additional paid-in surplus account. The 2018 balance sheet showed $3.7 million, $905,000, and $8.4 million in the same three accounts, respectively. The 2018 income statement showed an interest expense of $290,000. The company paid out $580,000 in cash dividends during 2018 . If the firm's net capital spending for 2018 was $680,000, and the firm reduced its net working capital investment by $205,000, what was the firm's 2018 operating cash flow, or OCF? Multiple Choice $1,600,000 $3,710,000 $2,760,000 $2,485,000 $2,075,000

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