Question
The December 31, 2009, balance sheet of Schism, Inc., showed long-term debt of $1.465 million, $153,000 in the common stock account and $2.78 million in
The December 31, 2009, balance sheet of Schism, Inc., showed long-term debt of $1.465 million, $153,000 in the common stock account and $2.78 million in the additional paid-in surplus account. The December 31, 2010, balance sheet showed long-term debt of $1.71 million, $163,000 in the common stock account and $3.08 million in the additional paid-in surplus account. The 2010 income statement showed an interest expense of $100,500 and the company paid out $158,000 in cash dividends during 2010. The firm's net capital spending for 2010 was $1,090,000, and the firm increased its net working capital investment by $37,000. What was the firm's operating cash flow during 2010?
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