Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The December 31, 2013, balance sheet of Schism, Inc., showed long-term debt of $1,430,000, $146,000 in the common stock account and $2,710,000 in the additional

The December 31, 2013, balance sheet of Schism, Inc., showed long-term debt of $1,430,000, $146,000 in the common stock account and $2,710,000 in the additional paid-in surplus account. The December 31, 2014, balance sheet showed long-term debt of $1,640,000, $156,000 in the common stock account and $3,010,000 in the additional paid-in surplus account. The 2014 income statement showed an interest expense of $97,000 and the company paid out $151,000 in cash dividends during 2014. The firms net capital spending for 2014 was $1,020,000, and the firm reduced its net working capital investment by $131,000. (Enter your answer as directed, but do not round intermediate calculations.)

Required:

What was the firms operating cash flow during 2014? (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

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

Dave Ramseys Complete Guide To Money

Authors: Dave Ramsey

1st Edition

1937077209, 978-1937077204

More Books

Students also viewed these Finance questions

Question

Identify the components of communication.

Answered: 1 week ago