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The 2017 balance sheet of Kerber's Tennis Shop, Incorporated, showed $2.6 million in long-term debt, $770,000 in the common stock account, and $6.25 million in
The 2017 balance sheet of Kerber's Tennis Shop, Incorporated, showed $2.6 million in long-term debt, $770,000 in the common stock account, and $6.25 million in the additional paid-in surplus account. The 2018 balance sheet showed $4 million, $985.000, and $7.85 million in the same three accounts, respectively. The 2018 income statement showed an interest expense of $270,000. The company paid out $520,000 in cash dividends during 2018 . If the firm's net capital spending for 2018 was $840,000, 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 $4,120,000 $2,425,000 $2,810,000 $2,795,000 $1,770,000
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