Question
Quarles Industries had the following operating results for 2015: sales = $29,500; cost of goods sold = $19,760; depreciation expense = $5,260; interest expense =
Quarles Industries had the following operating results for 2015: sales = $29,500; cost of goods sold = $19,760; depreciation expense = $5,260; interest expense = $2,640; dividends paid = $1,450. At the beginning of the year, net fixed assets were $17,080, current assets were $5,860, and current liabilities were $3,325. At the end of the year, net fixed assets were $20,660, current assets were $7,300, and current liabilities were $3,980. The tax rate for 2015 was 35 percent.
a. What is net income for 2015? (Do not round intermediate calculations.) Net income $
b. What is the operating cash flow for 2015? (Do not round intermediate calculations.) Operating cash flow $
c. What is the cash flow from assets for 2015? (Do not round intermediate calculations. Negative amount should be indicated by a minus sign.) Cash flow from assets $
d-1 If no new debt was issued during the year, what is the cash flow to creditors? (Do not round intermediate calculations.) Cash flow to creditors $
d-2 If no new debt was issued during the year, what is the cash flow to stockholders? (Do not round intermediate calculations. Negative amount should be indicated by a minus sign.) Cash flow to stockholders $
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