Question
The December 31, 2013 balance sheet of Schism, Inc., showed long-term debt of $1,395,000, $139,000 in the common stock account and $2,640,000 in the additional
The December 31, 2013 balance sheet of Schism, Inc., showed long-term debt of $1,395,000, $139,000 in the common stock account and $2,640,000 in the additional paid-in surplus account. The December 31, 2014 balance sheet showed long-term debt of $1,570,000, $149,000 in the common stock account and $2,940,000 in the additional paid-in surplus account. The 2014 income statement showed an interest expense of $93,500 and the company paid out $144,000 in cash dividends in 2014. The firm's net capital spending for 2010(???) was $950,000, and the firm reduced its net working capital investment by $124,000.
What was the firm's operating cash flow during 2014?
(I believe the 2010 is 2014 and was just a mistake by the publisher).
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