Question
Titan Football Manufacturing had the following operating results for 2013: sales = $19,780; cost of goods sold = $13,980; depreciation expense = $2,370; interest expense
Titan Football Manufacturing had the following operating results for 2013: sales = $19,780; cost of goods sold = $13,980; depreciation expense = $2,370; interest expense = $345; dividends paid = $550. At the beginning of the year, net fixed assets were $13,800, current assets were $2,940, current liabilities were $2,070, and long-term debt was $4,170. At the end of the year, net fixed assets were $16,340, current assets were $3,280, current liabilities were $2,160, and long-term debt was $4,450. The tax rate for 2013 was 35 percent. What is the cash flow from assets during 2013?
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