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Quarles Industries had the following operating results for 2015: sales = $30,660; cost of goods sold = $20,260; depreciation expense = $5,660; interest expense =
Quarles Industries had the following operating results for 2015: sales = $30,660; cost of goods sold = $20,260; depreciation expense = $5,660; interest expense = $3,090; dividends paid = $1,950. At the beginning of the year, net fixed assets were $17,480, current assets were $5,960, and current liabilities were $3,575. At the end of the year, net fixed assets were $21,160, current assets were $7,180, and current liabilities were $4,100. The tax rate for 2015 was 30 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 | $ |
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