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The 2020 balance sheet of Osaka's Tennis Shop, Inc., showed long-term debt of $2.25 million, and the 2021 balance sheet showed long-term debt of $2.66
The 2020 balance sheet of Osaka's Tennis Shop, Inc., showed long-term debt of $2.25 million, and the 2021 balance sheet showed long-term debt of $2.66 million. The 2021 income statement showed an interest expense of $305,000. The balance sheet also showed $780,000 in the common stock account and $4.78 million in the additional paid-in surplus account. The 2021 balance sheet showed $965,000 and $5.04 million in the same two accounts, respectively. The company paid out $654,000 in cash dividends during 2021. You also know that the firm's net capital spending for 2021 was $1.5 million and that the firm reduced its net working capital investment 2 by $55,000. What was the firm's 2021 operating cash flow, or OCF?
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