Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The 2020 balance sheet of Osaka's Tennis Shop, Incorporated, showed long-term debt of $3.1 million, and the 2021 balance sheet showed long-term debt of $3.2
The 2020 balance sheet of Osaka's Tennis Shop, Incorporated, showed long-term debt of $3.1 million, and the 2021 balance sheet showed long-term debt of $3.2 million. The 2021 income statement showed an interest expense of $150,000. During 2021, the company had a cash flow to creditors of $50,000 and the cash flow to stockholders for the year was $90,000. Suppose you also know that the firm's net capital spending for 2021 was $1.34 million and that the firm reduced its net working capital investment by $63,000. 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.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started