The 2018 balance sheet of Speith's Golf Shop, Inc., showed long-term debt of $6.2 million, and the 2019 balance sheet showed long-term debt of $6.45 million. The 2019 income statement showed an interest expense of $215,000. The 2018 balance sheet showed $610,000 in the common stock account and $2.5 million in the additional paid-in surplus account. The 2019 balance sheet showed $650,000 and $3 million in the same two accounts, respectively. The company paid out $610,000 in cash dividends during 2019. Suppose you also know that the firm's net capital spending for 2019 was $1,470,000, and that the firm reduced its net working capital investment by $89,000. What was the firm's 2019 operating cash flow, or OCF? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567.)
The 2018 balance sheet of Speith's Golf Shop, Inc., showed long-term debt of $6.2 million, and the 2019 balance sheet showed long-term debt of $6.45 million. The 2019 income statement showed an interest expense of $215,000. The 2018 balance sheet showed $610,000 in the common stock account and $2.5 million in the additional paid-in surplus account. The 2019 balance sheet showed $650,000 and $3 million in the same two accounts, respectively. The company paid out $610,000 in cash dividends during 2019. Suppose you also know that the firm's net capital spending for 2019 was $1,470,000, and that the firm reduced its net working capital investment by $89,000. What was the firm's 2019 operating cash flow, or OCF? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567.)
Fundamentals Of Financial Management, Concise Edition (mindtap Course List)
10th Edition
ISBN:9781337902571
Author:Eugene F. Brigham, Joel F. Houston
Publisher:Eugene F. Brigham, Joel F. Houston
Chapter3: Financial Statements, Cash Flow, And Taxes
Section: Chapter Questions
Problem 19SP
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