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Quarles Industries had the following operating results for 2015: sales = $28, 260, cost of goods sold: = $19, 410, depreciation expense = $4, 980,
Quarles Industries had the following operating results for 2015: sales = $28, 260, cost of goods sold: = $19, 410, depreciation expense = $4, 980, interest expense = $2.340, dividends paid = $1, 100 At the beginning of the year, net fixed assets were $16, 830, current assets were $5, 790, and current liabilities were $3, 240. At the end of the year, net fixed assets were $20, 310, current assets were $7, 116, and current liabilities were $3, 870. The tax rate for 2015 was 30 percent. a. What is net income for 2015? (Do not round intermediate calculations.) Net income $1, 071 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) Cash flow to stockholders $
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