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The 2017 balance sheet of Kerber's Tennis Shop. Inc., showed $2.2 million in long-term debt, $790,000 in the common stock account, and $6.4 million in
The 2017 balance sheet of Kerber's Tennis Shop. Inc., showed $2.2 million in long-term debt, $790,000 in the common stock account, and $6.4 million in the additional pald-in surplus account. The 2018 balance sheet showed $3.8 million, $905,000 and $8 million in the same three accounts respectively. The 2018 Income statement showed an interest expense of $210,000. The company paid out $510,000 in cash dividends during 2018. If the firm's net capital spending for 2018 was $850,000, and the firm reduced its net working capital Investment by $175,000, what was the firm's 2018 operating cash flow, or OCF? Multiple Choice $-2,595,000 $-4,290,000 O $-2,940,000 $2.945,000 O $-1,920,000
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