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The 2017 balance sheet of Kerber's Tennis Shop, Inc., showed $2.4 million in long-term debt, $780,000 in the common stock account, and $6.1 million in
The 2017 balance sheet of Kerber's Tennis Shop, Inc., showed $2.4 million in long-term debt, $780,000 in the common stock account, and $6.1 million in the additional paid-in surplus account. The 2018 balance sheet showed $4.25 million, $935,000, and $8.7 million in the same three accounts, respectively. The 2018 income statement showed an interest expense of $360,000. The company paid out $630,000 in cash dividends during 2018. If the firm's net capital spending for 2018 was $750,000, and the firm reduced its net working capital investment by $195,000, what was the firm's 2018 operating cash flow, or OCF? Multiple Choice $4,005,000 $-3,615,000 $-4,320,000 $-5,430,000
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