Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The 2020 balance sheet of Osaka's Tennis Shop, Incorporated, showed long-term debt of $6.2 million, and the 2021 balance sheet showed long-term debt of $6.4

image text in transcribed
The 2020 balance sheet of Osaka's Tennis Shop, Incorporated, showed long-term debt of $6.2 million, and the 2021 balance sheet showed long-term debt of $6.4 million. The 2021 income statement showed an interest expense of $215,000. During 2021, the company had a cash flow to creditors of $15,000 and the cash flow to stockholders for the year was $70,000. Suppose you also know that the firm's net capital spending for 2021 was $1.47 million and that the firm reduced its net working capital investment by $89,000. What was the firm's 2021 operating cash flow, or OCF? (Enter your answer in dollars, not millions of dollars, e.g., 1,234,567.) Answer is complete but not entirely correct

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Banking With Integrity The Winners Of The Financial Crisis

Authors: Dr Heiko Spitzeck , Dr Michael Pirson, Dierksme , Dr. Heiko Spitzeck , Prof. Claus Dierksmeier, Dr. Michael Pirson

1st Edition

0230289959,0230346499

More Books

Students also viewed these Finance questions