Question
Problem 2-10 Cash Flow to Creditors [LO 4] The December 31, 2018, balance sheet of Whelan, Inc., showed long-term debt of $1,455,000 and the December
Problem 2-10 Cash Flow to Creditors [LO 4]
The December 31, 2018, balance sheet of Whelan, Inc., showed long-term debt of $1,455,000 and the December 31, 2019, balance sheet showed long-term debt of $1,690,000. The 2019 income statement showed an interest expense of $99,500. |
What was the firm's cash flow to creditors during 2019? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to the nearest whole number, e.g., 1,234,567.) |
Problem 2-5 Calculating Taxes [LO 3]
Duela Dent is single and had $179,200 in taxable income. Use the rates from Table 2.3. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
Calculate her income taxes. |
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