Question
The 2008 balance sheet of Maria's Tennis Shop, Inc., showed $2.15 million in long-term debt, $790,000 in the common stock account, and $6.45 million in
The 2008 balance sheet of Maria's Tennis Shop, Inc., showed $2.15 million in long-term debt, $790,000 in the common stock account, and $6.45 million in the additional paid-in surplus account. The 2009 balance sheet showed $3.95 million, $965,000, and $8.4 million in the same three accounts, respectively. The 2009 income statement showed an interest expense of $370,000. The company paid out $620,000 in cash dividends during 2009. If the firm's net capital spending for 2009 was $690,000, and the firm reduced its net working capital investment by $125,000, the firm's 2009 operating cash flow, or OCF?
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