Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The 2 0 2 0 statement of financial position of Anna's Tennis Shop Inc. showed long - term debt of $ 6 . 2 0

The 2020 statement of financial position of Anna's Tennis Shop Inc. showed long-term debt of $6.20 million, and the 2021 statement of financial position showed long-term debt of $6.27 million. The 2021 statement of comprehensive income showed an interest expense of $170,000. The 2020 statement of financial position of Anna's Tennis Shop Inc. showed $610,000 in the common shares account and $2.5 million in the additional paid-in surplus account. The 2021 statement of financial position showed $650,000 and $3.00 million in the same two accounts, respectively. The company paid out $420,000 in cash dividends during 2021. Suppose you also know that the firm's net capital spending for 2021 was $1,047,000 and that the firm reduced its net working capital investment by $104,000.What was the firm's 2021 operating cash flow?Operating cash flow $__________.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Oxford Handbook Of Pricing Management

Authors: Ozalp Ozer, Robert Phillips

1st Edition

0199543178, 978-0199543175

More Books

Students also viewed these Finance questions