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What is the net new long term debt During 2018. Raines umbrella Corp. had sales of $880,000. Cost of goods sold, administrative and selling expenses,
What is the net new long term debt
During 2018. Raines umbrella Corp. had sales of $880,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $675,000, $85,000, and $190,000, respectively In addition, the company had an interest expense Of $62,000 and a tax rate Of 21 percent. (Ignore any tax loss carryforward provisions and assume interest expense is fully deductible,) Suppose the company paid out $69,000 in cash dividends. If net capital spending and net working capital was zero, and if no new stock was issued during the year. what is the net new long-term debt? (Do not round intermediate calculations.) Net new long-term debt
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