Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The December 31, 2018, balance sheet of Whelan, Inc., showed long-term debt of $ 1,410,000, $ 142,000 in the common stock account, and $ 2,670,000
The December 31, 2018, balance sheet of Whelan, Inc., showed long-term debt of $ 1,410,000, $ 142,000 in the common stock account, and $ 2,670,000 in the additional paid-in surplus account. The December 31, 2019, balance sheet showed long-term debt of $ 1,600,000, $ 152,000 in the common stock account and $ 2,970,000 in the additional paid-in surplus account. The 2019 income statement showed an interest expense of $ 95,000 and the company paid out $ 147,000 in cash dividends during 2019. The firm's net capital spending for 2019 was $ 980,000, and the firm reduced its net working capital investment by $ 127,000.
What was rhe firm's 2019 operating cashflow???
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