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The 2019 statement of financial position of Rogers Tennis Shop Inc. showed long-term debt of $2.3 million, and the 2020 statement of financial position showed
The 2019 statement of financial position of Rogers Tennis Shop Inc. showed long-term debt of $2.3 million, and the 2020 statement of financial position showed long-term debt of $2.55 million. The 2020 statement of comprehensive income showed an interest expense of $190,000. During 2020, Rogers Tennis Shop Inc. realized the following: Cash flow to creditors $ -60,000 Cash flow to shareholders $ 415,000 Suppose you also know that the firms net capital spending for
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