Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Quarles Industries had the following operating results for 2015: sales = $30,780; cost of goods sold = $20,110; depreciation expense = $5,540; interest expense =

Quarles Industries had the following operating results for 2015: sales = $30,780; cost of goods sold = $20,110; depreciation expense = $5,540; interest expense = $2,940; dividends paid = $1,800. At the beginning of the year, net fixed assets were $17,390, current assets were $5,930, and current liabilities were $3,500. At the end of the year, net fixed assets were $21,010, current assets were $7,390, and current liabilities were $4,060. The tax rate for 2015 was 30 percent

a) What is net income for 2015? (Do not round intermediate calculations.)

b) what is the operating cash flow for 2015 (Do not round intermediate calculations.)

c) What is the cash flow from assets for 2015? (Do not round intermediate calculations. Negative amount should be indicated by a minus sign.)

d) If no new debt was issued during the year, what is the cash flow to creditors? (Do not round intermediate calculations.)

e) 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.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Finance Led Capitalism Shadow Banking Re Regulation And The Future Of Global Markets

Authors: Robert Guttmann

1st Edition

1137398566, 978-1137398567

More Books

Students also viewed these Finance questions

Question

What is operatiing system?

Answered: 1 week ago

Question

What is the relationship between humans?

Answered: 1 week ago

Question

What is the orientation toward time?

Answered: 1 week ago