Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The December 31, 2018, balance sheet of Whelan, Inc., showed long-term debt of $1,405,000, $141,000 in the common stock account, and $2,660,000 in the additional

The December 31, 2018, balance sheet of Whelan, Inc., showed long-term debt of $1,405,000, $141,000 in the common stock account, and $2,660,000 in the additional paid-in surplus account. The December 31, 2019, balance sheet showed long-term debt of $1,590,000, $151,000 in the common stock account and $2,960,000 in the additional paid-in surplus account. The 2019 income statement showed an interest expense of $94,500 and the company paid out $146,000 in cash dividends during 2019. The firms net capital spending for 2019 was $970,000, and the firm reduced its net working capital investment by $126,000.

What was the firm's 2019 operating cash flow, or OCF? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to the nearest whole number, 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

Governance Of Financial Management

Authors: John Carver, Miriam Carver

1st Edition

0470392541, 9780470392546

More Books

Students also viewed these Finance questions

Question

2. Are there more men or women? (find statistics)

Answered: 1 week ago

Question

understand how design and writing connect in mass communication.

Answered: 1 week ago

Question

Who is the audience?

Answered: 1 week ago