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The December 31, 2021, balance sheet of Chen, Incorporated, showed long-term debt of $1,425,000, $145,000 in the common stock account, and $2,700,000 in the additional
The December 31, 2021, balance sheet of Chen, Incorporated, showed long-term debt of $1,425,000, $145,000 in the common stock account, and $2,700,000 in the additional paid-in surplus account. The December 31, 2022, balance sheet showed long-term debt of $1,630,000, $155,000 in the common stock account and $3,000,000 in the additional paid-in surplus account. The 2022 income statement showed an interest expense of $96,500 and the company paid out $150,000 in cash dividends during 2022. The firms net capital spending for 2022 was $1,010,000, and the firm reduced its net working capital investment by $130,000. What was the firm's 2022 operating cash flow, or OCF
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Step: 1
To determine the firms 2022 operating cash flow OCF we can use the cash flow identity textOCF textNet Income textDepreciation textDecrease in NWC text...
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