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Titan Football Manufacturing had the following operating results for 2014: sales = $19,960; cost of goods sold = $13,800; depreciation expense = $2,190; interest expense
Titan Football Manufacturing had the following operating results for 2014: sales = $19,960; cost of goods sold = $13,800; depreciation expense = $2,190; interest expense = $255; dividends paid = $730. At the beginning of the year, net fixed assets were $22,800, current assets were $3,120, and current liabilities were $1,890. At the end of the year, net fixed assets were $27,140, current assets were $3,640, and current liabilities were $1,980. The tax rate for 2014 was 40 percent.
Titan Football Manufacturing had the following operating results for 2014: sales = $19,960; cost of goods sold = $13,800; depreciation expense = $2,190; interest expense = $255; dividends paid = $730. At the beginning of the year, net fixed assets were $22,800, current assets were $3,120, and current liabilities were $1,890. At the end of the year, net fixed assets were $27,140, current assets were $3,640, and current liabilities were $1,980. The tax rate for 2014 was 40 percent. (Enter your answers as directed, but do not round intermediate calculations.) Requirement 1: What is net income for 2014? (Round your answer to the nearest whole dollar amount (e.g., 32).) Net income $ 2229 Requirement 2: What is the operating cash flow during 2014? (Round your answer to the nearest whole dollar amount (e.g., 32).) Operating cash flow $ 4573 X Requirement 3: What is the cash flow from assets during 2014? (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 $ 0 % Requirement 4: Assume no new debt was issued during the year. (a) What is the cash flow to creditors during 2014? (Round your answer to the nearest whole dollar amount (e.g., 32).) Cash flow to creditors $ 255 (b) What is the cash flow to stockholders during 2014? (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 $ -2613
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