Question
please write in text not in handwriting since its hard to read from a paper pic and i need an explanation for each problem thank
please write in text not in handwriting since its hard to read from a paper pic and i need an explanation for each problem thank you
1. Prepare an amortization schedule for a 5-year loan of $87,000. The interest rate is 7% with equal monthly payments How much interest is paid during the first year?
2. Prescott Football Manufacturing had the following operating results for 2019: Sales = $29,874; Cost of Goods Sold = $21,632; Depreciation Expense = $3,470; Interest Expense = $514; Dividends Paid = $825. At the beginning of the year, Net Fixed Assets were $19,872; Current Assets were $3,557; and Current Liabilities were $3,110. At the end of the year, Net Fixed Assets were $22,987; Current Assets were $4,381; and Current Liabilities were $2,981. The Tax Rate for 2019 was 24 percent.
- What is net income for 2019?
- What is the operating cash flow for 2019?
- What is the cash flow from assets for 2019? Is this possible? Explain.
- If no new debt was issued during the year, what is the cash flow to creditors? What is the cash flow to stockholders?
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