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The December 31, 2015, balance sheet of Contrail Air, Inc., showed long-term debt of $1,590,000, and the December 31, 2016, balance sheet showed long-term debt
The December 31, 2015, balance sheet of Contrail Air, Inc., showed long-term debt of $1,590,000, and the December 31, 2016, balance sheet showed long-term debt of $1,662,000. The 2016 income statement showed an interest expense of $103,900. What was the firm's cash flow to creditors during 2016?
A B 1 FE Input area: Dec. 31, 2011 Long-term debt Dec. 31, 2012 Long-term debt Interest expense $ 1,590,000 $ 1,662,000 $103,900 10 12 13 14 15 16 17 18 Output area: Cash flow to creditorsStep by Step Solution
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