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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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