Question
The 2018 balance sheet of Speith's Golf Shop Inc., showed long-term debt of $5.6 million, and the 2019 balance sheet showed long-term debt of $5.85
The 2018 balance sheet of Speith's Golf Shop Inc., showed long-term debt of $5.6 million, and the 2019 balance sheet showed long-term debt of $5.85 million. The 2019 income statement showed and interest expense of $185,000. The 2018 balance sheet showed $550,000 in the common stock account and $4.7 million in the additional paid-in surplus account. The 2019 balance sheet showed $590,000 and $5.1 million in the same two accounts, respectively. The company paid out $550,000 in cash dividends during 2019. Suppose that you also know that the firm's net capital spending for 2019 was $1,140,000, and that the firm reduced its networking capital investment by $77,000.
What was the firm's 2019 operating cash flow, or OFC?
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