Question
Problem 2-21 Calculating Cash Flows Stackhouse Industries had the following operating results for 2023: sales = $54,290; cost of goods sold = $37,290; depreciation expense
Problem 2-21 Calculating Cash Flows
Stackhouse Industries had the following operating results for 2023: sales = $54,290; cost of goods sold = $37,290; depreciation expense = $5,770; interest expense = $1,295; dividends paid = $2,800. At the beginning of the year, net fixed assets were $33,160, current assets were $8,280, and current liabilities were $5,539. At the end of the year, net fixed assets were $42,800, current assets were $9,365, and current liabilities were $5,850. The tax rate was 22 percent.
a. What was net income for 2023?
Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.
b. What was the operating cash flow for 2023?
Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.
c. What was the cash flow from assets for 2023?
Note: 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-1. If no new debt was issued during the year, what was the cash flow to creditors?
Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.
d-2. If no new debt was issued during the year, what was the cash flow to stockholders?
Note: 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.
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