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Quarles Industries had the following operating results for 2015: sales = $30,540; cost of goods sold = $19,910; depreciation expense = $5,380; interest expense =

Quarles Industries had the following operating results for 2015: sales = $30,540; cost of goods sold = $19,910; depreciation expense = $5,380; interest expense = $2,790; dividends paid = $1,600. At the beginning of the year, net fixed assets were $17,360, current assets were $5,890, and current liabilities were $3,400. At the end of the year, net fixed assets were $20,810, current assets were $7,750, and current liabilities were $4,010. 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.)

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