Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

UML Inc. had an EBIT of 71,000, depreciation expense of 8,500, and paid 19,000 in taxes. Its interest costs were $9,600; its long-term borrowing reduced

UML Inc. had an EBIT of 71,000, depreciation expense of 8,500, and paid 19,000 in taxes. Its interest costs were $9,600; its long-term borrowing reduced by $4,000; it raised $6,000 in new equity; and paid $12,000 in dividends. If the net capital spending was $30,000, what was the change in net working capital?

A.

10,900

B.

9,400

C.

10,000

D.

11,200

E.

11,500

F.

10,300

G.

10,600

H.

9,700

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Corporate Financial Management

Authors: Glen Arnold, James Pickford

2nd Edition

0582821762, 978-0582821767

More Books

Students also viewed these Finance questions