Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The 2014 balance sheet of Sugarpova's Tennis Shop, Inc., showed long-term debt of $2.9 million, and the 2015 balance sheet showed long-term debt of $3.1

The 2014 balance sheet of Sugarpova's Tennis Shop, Inc., showed long-term debt of $2.9 million, and the 2015 balance sheet showed long-term debt of $3.1 million. The 2015 income statement showed an interest expense of $145,000. During 2015, the company had a cash flow to creditors of -$55,000 and the cash flow to stockholders for the year was $80,000. Suppose you also know that the firms net capital spending for 2015 was $1,330,000, and that the firm reduced its net working capital investment by $61,000. What was the firms 2015 operating cash flow, or OCF?

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

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

Recommended Textbook for

The Sterling Bonds And Fixed Income Handbook

Authors: Mark Glowrey

1st Edition

0857190423, 978-0857190420

More Books

Students also viewed these Finance questions

Question

c. What were you expected to do when you grew up?

Answered: 1 week ago