Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Prescott Football Manufacturing had the following operating results for 2019: sales = $30,274; cost of goods sold = $21,776; depreciation expense = $3,526; interest expense
Prescott Football Manufacturing had the following operating results for 2019: sales = $30,274; cost of goods sold = $21,776; depreciation expense = $3,526; interest expense = $554; dividends paid = $857. At the beginning of the year, net fixed assets were $20,104, current assets were $2,853, and current liabilities were $3,998. At the end of the year, net fixed assets were $23,107, current assets were $4,469, and current liabilities were $3,109. The tax rate for 2019 was 23 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 for 2019? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) |
e. | Assume no new debt was issued during the year. What is the cash flow to stockholders 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.) |
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