Question
Quarles Industries had the following operating results for 2015: sales = $28,860; cost of goods sold = $19,510; depreciation expense = $5,060; interest expense =
Quarles Industries had the following operating results for 2015: sales = $28,860; cost of goods sold = $19,510; depreciation expense = $5,060; interest expense = $2,340; dividends paid = $1,200. At the beginning of the year, net fixed assets were $17,130, current assets were $5,810, and current liabilities were $3,320. At the end of the year, net fixed assets were $20,410, current assets were $7,360, and current liabilities were $3,930. The tax rate for 2015 was 34 percent. |
a. | What is net income for 2015? (Do not round intermediate calculations.) |
Net income | $ 1287 |
b. | What is the operating cash flow for 2015? (Do not round intermediate calculations.) |
Operating cash flow | $ 8687 |
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 | $ 2340 |
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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