Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Zigs Industries had the following operating results for 2011: sales = $30,420; cost of goods sold = $20,060; depreciation expense = $5,500; interest expense =

image text in transcribed

Zigs Industries had the following operating results for 2011: sales = $30,420; cost of goods sold = $20,060; depreciation expense = $5,500; interest expense = $2,940; dividends paid = $1,750. At the beginning of the year, net fixed assets were $17,410, current assets were $5,920, and current liabilities were $3,475. At the end of the year, net fixed assets were $20,960, current assets were $7,390, and current liabilities were $4,050. The tax rate for 2011 was 30 percent. What is net income for 2011? What is the operating cash flow for 2011? What is the cash flow from assets for 2011? (Negative amount should be indicated by a minus sign.) If no new debt was issued during the year, what is the cash flow to creditors? If no new debt was issued during the year, what is the cash flow to stockholders? (Negative amount should be indicated by a minus sign.)

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

Mastering Islamic Finance

Authors: Faizal Karbani

1st Edition

1292001445, 978-1292001449

More Books

Students also viewed these Finance questions

Question

Evaluate the importance of the employee handbook.

Answered: 1 week ago

Question

Discuss the steps in the progressive discipline approach.

Answered: 1 week ago