Question
The 2014 balance sheet of Jordans Golf Shop, Inc., showed long-term debt of $6.5 million, and the 2015 balance sheet showed long-term debt of $6.75
The 2014 balance sheet of Jordans Golf Shop, Inc., showed long-term debt of $6.5 million, and the 2015 balance sheet showed long-term debt of $6.75 million. The 2015 income statement showed an interest expense of $230,000. The 2014 balance sheet showed $640,000 in the common stock account and $5.8 million in the additional paid-in surplus account. The 2015 balance sheet showed $680,000 and $6.3 million in the same two accounts, respectively. The company paid out $625,000 in cash dividends during 2015. Suppose you also know that the firms net capital spending for 2015 was $1,500,000, and that the firm reduced its net working capital investment by $95,000. |
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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