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Titan Football Manufacturing had the following operating results for 2010: sales = $19,890; cost of goods sold = $13,870; depreciation expense = $2,260; interest expense
Titan Football Manufacturing had the following operating results for 2010: sales = $19,890; cost of goods sold = $13,870; depreciation expense = $2,260; interest expense = $290; dividends paid = $660. At the beginning of the year, net fixed assets were $19,300, current assets were $3,050, and current liabilities were $1,960. At the end of the year, net fixed assets were $22,940, current assets were $3,500, and current liabilities were $2,050. The tax rate for 2010 was 40 percent. Requirement 1: What is net income for 2010? (Do not include the dollar sign ($). Round your answer to the nearest whole dollar amount (e.g., 32)) Net income $ Requirement 2: What is the operating cash flow during 2010? (Do not include the dollar sign ($). Round your answer to the nearest whole dollar amount (e.g., 32)) Operating cash flow $ Requirement 3: What is the cash flow from assets during 2010? (Do not include the dollar sign ($). Negative amount should be indicated by a minus sign. Round your answer to the nearest whole dollar amount (e.g., 32)) Cash flow from assets $ Requirement 4: Assume no new debt was issued during the year. (a) What is the cash flow to creditors during 2010? (Do not include the dollar sign ($).) Cash flow to creditors $ (b) What is the cash flow to stockholders during 2010? (Do not include the dollar sign ($). Negative amount should be indicated by a minus sign. Round your answer to the nearest whole dollar amount (e.g., 32)) Cash flow to stockholders $
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