Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

The 2014 balance sheet of Jordans Golf Shop, Inc., showed long-term debt of $5.8 million, and the 2015 balance sheet showed long-term debt of $6.05

The 2014 balance sheet of Jordans Golf Shop, Inc., showed long-term debt of $5.8 million, and the 2015 balance sheet showed long-term debt of $6.05 million. The 2015 income statement showed an interest expense of $195,000. The 2014 balance sheet showed $570,000 in the common stock account and $2.4 million in the additional paid-in surplus account. The 2015 balance sheet showed $610,000 and $2.8 million in the same two accounts, respectively. The company paid out $565,000 in cash dividends during 2015. Suppose you also know that the firms net capital spending for 2015 was $1,430,000, and that the firm reduced its net working capital investment by $81,000.

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.)

Operating cash flow $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Finance questions