Question
The 2014 balance sheet of Jordans Golf Shop, Inc., showed long-term debt of $6.2 million, and the 2015 balance sheet showed long-term debt of $6.45
The 2014 balance sheet of Jordans Golf Shop, Inc., showed long-term debt of $6.2 million, and the 2015 balance sheet showed long-term debt of $6.45 million. The 2015 income statement showed an interest expense of $215,000. The 2014 balance sheet showed $610,000 in the common stock account and $2.5 million in the additional paid-in surplus account. The 2015 balance sheet showed $650,000 and $3 million in the same two accounts, respectively. The company paid out $610,000 in cash dividends during 2015. Suppose you also know that the firms net capital spending for 2015 was $1,470,000, and that the firm reduced its net working capital investment by $89,000. What was the firms 2015 operating cash flow, or OCF? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567.)
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