Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The December 3 1 , 2 0 2 1 , balance sheet of Chen, Incorporated, showed long - term debt of $ 1 , 3

The December 31,2021, balance sheet of Chen, Incorporated, showed long-term debt of $1,375,000, $135,000 in the common stock account, and $2,600,000 in the additional paid-in surplus account. The December 31,2022, balance sheet showed long-term debt of $1,530,000, $145,000 in the common stock account and $2,900,000 in the additional paid-in surplus account. The 2022 income statement showed an interest expense of $91,500 and the company paid out $140,000 in cash dividends during 2022. The firms net capital spending for 2022 was $910,000, and the firm reduced its net working capital investment by $120,000. What was the firm's 2022 operating cash flow, or OCF?

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

Step: 3

blur-text-image

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

Intermediate Financial Management

Authors: Eugene F Brigham, Phillip R Daves

14th Edition

0357516664, 978-0357516669

More Books

Students also viewed these Finance questions