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Quarles Industries had the following operating results for 2015: sales = $29,820; cost of goods sold = $19,810; depreciation expense = $5,300; interest expense =
Quarles Industries had the following operating results for 2015: sales = $29,820; cost of goods sold = $19,810; depreciation expense = $5,300; interest expense = $2,640; dividends paid = $1,500. At the beginning of the year, net fixed assets were $17,230, current assets were $5,870, and current liabilities were $3,350. At the end of the year, net fixed assets were $20,710, current assets were $7,450, and current liabilities were $3,990. The tax rate for 2015 was 30 percent a. What is net income for 2015? (Do not round intermediate calculations.) Net income $ 1449 b. What is the operating cash flow for 2015? (Do not round intermediate calculations.) Operating cash $ 9389 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 $ -251 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 $ 2640 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 $ -2891
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