Question
The 2017 balance sheet of Kerber's Tennis Shop, Inc., showed long-term debt of $5.2 million, and the 2018 balance sheet showed long-term debt of $5.4
The 2017 balance sheet of Kerber's Tennis Shop, Inc., showed long-term debt of $5.2 million, and the 2018 balance sheet showed long-term debt of $5.4 million. The 2018 income statement showed an interest expense of $165,000. During 2018, the company had a cash flow to stockholders for the year was $70,000. Suppose you also know that the firms net capital spending for 2018 was $1,370,000, and that the firm reduced its net working capital investment by $69,000.
What was the firms 2018 operating cash flow, or OCF? (Enter your answer in dollars, not millions of dollars, e.g., 1,234,567.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started