Question
The December 31, 2013, balance sheet of Schism, Inc., showed long-term debt of $1,390,000, $138,000 in the common stock account and $2,630,000 in the additional
The December 31, 2013, balance sheet of Schism, Inc., showed long-term debt of $1,390,000, $138,000 in the common stock account and $2,630,000 in the additional paid-in surplus account. The December 31, 2014, balance sheet showed long-term debt of $1,560,000, $148,000 in the common stock account and $2,930,000 in the additional paid-in surplus account. The 2014 income statement showed an interest expense of $93,000 and the company paid out $143,000 in cash dividends during 2014. The firms net capital spending for 2014 was $940,000, and the firm reduced its net working capital investment by $123,000. What was the firms operating cash flow during 2014?
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