Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

image text in transcribedimage text in transcribed 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. a. What is net income for 2019 ? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) b. What is the operating cash flow for 2019? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) c. What is the cash flow from assets for 2019? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) d. Assume no new debt was issued during the year. What is the cash flow to creditors during 2019? What is the cash flow to stockholders? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) Answer is complete but not entirely correct

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

The Routledge Handbook Of Integrated Reporting

Authors: Charl De Villiers, Warren Maroun, Pei-Chi Hsiao

1st Edition

0367233851, 978-0367233853

More Books

Students also viewed these Finance questions

Question

Discuss communication challenges in a global environment.

Answered: 1 week ago