Question
The 2020 balance sheet of Osakas Tennis Shop, Incorporated, showed long-term debt of $6.1 million, and the 2021 balance sheet showed long-term debt of $6.35
The 2020 balance sheet of Osakas Tennis Shop, Incorporated, showed long-term debt of $6.1 million, and the 2021 balance sheet showed long-term debt of $6.35 million.
The 2021 income statement showed an interest expense of $210,000.
The 2020 balance sheet showed $600,000 in the common stock account and $5.7 million in the additional paid-in surplus account.
The 2021 balance sheet showed $640,000 and $6.2 million in the same two accounts, respectively.
The company paid out $605,000 in cash dividends during 2021.
Suppose you also know that the firms net capital spending for 2021 was $1,460,000, and that the firm reduced its net working capital investment by $87,000.
What was the firms 2021 operating cash flow, or OCF?
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