Question
The 2008 balance sheet of Maria's Tennis Shop, Inc., showed $2.6 million in long-term debt, $740,000 in the common stock account, and $5.2 million in
The 2008 balance sheet of Maria's Tennis Shop, Inc., showed $2.6 million in long-term debt, $740,000 in the common stock account, and $5.2 million in the additional paid-in surplus account. The 2009 balance sheet showed $2.9 million, $815,000, and $5.5 million in the same three accounts, respectively. The 2009 income statement showed an interest expense of $170,000. The company paid out $490,000 in cash dividends during 2009. If the firm's net capital spending for 2009 was $940,000, and the firm reduced its net working capital investment by $85,000, the firm's 2009 operating cash flow, or OCF, is _____ (Do not include the dollar sign ($). Enter answer in dollars, not millions of dollars, e.g., $1,234,567. Round your answer to the nearest whole dollar amount. (e.g., 32))
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