Martinez Industries had the following operating results for 2021: Sales = $33,308; Cost of goods sold = $23,722; Depreciation expense = $5,897; Interest expense = $2,660; Dividends paid = $1,906. At the beginning of the year, net fixed assets were $19,840, current assets were $6,984, and current liabilities were $3,932. At the end of the year, net fixed assets were $24,412, current assets were $8,624, and current liabilities were $4,583. The tax rate for 2021 was 22 percent. a.What is net income for 2021? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)b.What is the operating cash flow for 2021? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)c.What is the cash flow from assets for 2021? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)d-1.If no new debt was issued during the year, what is the cash flow to creditors? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)d-2.If no new debt was issued during the year, what is the cash flow to stockholders?

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Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 52E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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Martinez Industries had the following operating results for 2021: Sales = $33,308; Cost of goods sold = $23,722; Depreciation expense = $5,897; Interest expense = $2,660; Dividends paid = $1,906. At the beginning of the year, net fixed assets were $19,840, current assets were $6,984, and current liabilities were $3,932. At the end of the year, net fixed assets were $24,412, current assets were $8,624, and current liabilities were $4,583. The tax rate for 2021 was 22 percent.

a.	What is net income for 2021? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
b.	What is the operating cash flow for 2021? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
c.	What is the cash flow from assets for 2021? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
d-1.	If no new debt was issued during the year, what is the cash flow to creditors? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
d-2.	If no new debt was issued during the year, what is the cash flow to stockholders?

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