Question
The 2011 statement of financial position of Rogers Tennis Shop Inc. showed long-term debt of $2.6 million, and the 2012 statement of financial position showed
The 2011 statement of financial position of Rogers Tennis Shop Inc. showed long-term debt of $2.6 million, and the 2012 statement of financial position showed long term debt of $2.9 million. The 2012 Statement of Comprehensive Income showed an interest expense of $170,000. The 2011 statement of financial position of Rogers Tennis Shop Inc. showed $740,000 in the common stock account and $5.2 million in the additional retained earnings account. The 2012 statement of financial position showed $815,000 and $5.5 million in the same two accounts, respectively. The company has paid out $490,000 in cash dividends during 2012. Assume that the firm's net capital spending for 2012 was $940,000, and that the firm reduced its net working capital investment by $85,000. What was the firms 2012 operating cash flow, or OCF? (Enter your answer in thousands, for e.g., 102 thousands would be entered as 102.)
Operating cash flow:
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