Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The december 31, 2015, balance sheet of schism, inc., showed long-term debt of $1,440,000, $148,000 in the common stock account, and $2,730,000 in the additional
The december 31, 2015, balance sheet of schism, inc., showed long-term debt of $1,440,000, $148,000 in the common stock account, and $2,730,000 in the additional paid-in surplus account. The December 31, 2016, balance sheet showed long-term debt of $1,660,000, $158,000 in the common stock account, and $3,030,000 in the additional paid-in surplus account. The 2016 income statement showed an interest expense of $98,000 and the company paid out $153,000 in cash dividends during 2016. The firms net capital spending for 2016 was $1,040,000, and the firm reduced its net working capital by $133,000.
What was the firms 2016 operating cash flow?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started