Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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))

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_2

Step: 3

blur-text-image_3

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

Personal Finance QuickStart Guide

Authors: Morgen Rochard

1st Edition

1945051019, 978-1945051012

More Books

Students also viewed these Finance questions

Question

Explain the nature of human resource management.

Answered: 1 week ago

Question

Write a note on Quality circles.

Answered: 1 week ago

Question

Describe how to measure the quality of work life.

Answered: 1 week ago