Question
The 2017 balance sheet of Kerbers Tennis Shop, Inc., showed $2.1 million in long-term debt, $700,000 in the common stock account, and $6.05 million in
The 2017 balance sheet of Kerbers Tennis Shop, Inc., showed $2.1 million in long-term debt, $700,000 in the common stock account, and $6.05 million in the additional paid-in surplus account. The 2018 balance sheet showed $4.05 million, $895,000, and $8.6 million in the same three accounts, respectively. The 2018 income statement showed an interest expense of $200,000. The company paid out $610,000 in cash dividends during 2018. If the firm's net capital spending for 2018 was $740,000, and the firm reduced its net working capital investment by $185,000, what was the firm's 2018 operating cash flow, or OCF? |
Multiple Choice
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$4,255,000
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$-5,660,000
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$-3,330,000
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$-3,885,000
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$-4,550,000
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