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Shannon Inc. had a year-end 2008 balance sheet which showed $2.4 million of long term debt and the 2009 year-end balance sheet showed long term
Shannon Inc. had a year-end 2008 balance sheet which showed $2.4 million of long term debt and the 2009 year-end balance sheet showed long term debt of $3.0 million. The company's income statement for the year 2009 showed interest expense of $160,000. What was the firm's cash flow to creditors?
$3,000,000 |
($160,000) |
$600,000 |
($440,000) |
($960,000) |
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