Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 20. calculating cash flows prescott football manuf

20. Calculating Cash Flows Prescott Football Manufacturing had the following operating results for 2019: sales...

90.2K

Verified Solution

Question

Accounting

image
20. Calculating Cash Flows Prescott Football Manufacturing had the following operating results for 2019: sales = $29,874; cost of goods sold = $21,632; depreciation expense = $3,470; interest expense = $514; dividends paid = $825. At the beginning of the year, net fixed assets were $19,872, current assets were $3,557, and current liabilities were $3,110. At the end of the year, net fixed assets were $22,987, current assets were $4,381, and current liabilities were $2,981. The tax rate for 2019 was 24 percent. 0.24 a. What is net income for 2019? $ 3000 b. What is the operating cash flow for 2019? $7295 What is the cash flow from assets for 2019? Is this possible? Explain. d. If no new debt was issued during the year, what is the cash flow to creditors? What is the cash flow to stockholders? Explain and interpret the positive and negative signs of your answers in parts (a) through (d). c

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Assume an airplane flew horizontally with a constant velocity and dropped one bale of hay every...

Physics
Q

You are looking to start a business after you inherited a rolling setup, like the one...

Mechanical Engineering
Q

Create a 6th order Butterworth filter. Then change capacitor values and notice how the design specifications...

Electrical Engineering
Q

Properly label the figures below using the following structures eye brain ear heart anterior limb...

Biology
Q

of mass M is in vertical position and that is able to move up or...

Physics
Q

A salesperson is given a choice of two salary plans Plan 1 is a weekly...

Basic Math
Q

8 The total profit in thousands of dollars from selling x x fishing boats is...

Calculus
Q

i need a balance sheet and income statement ...

Accounting
Q

Basco Company sold office furniture for cash. The furniture cost and had accumulated depreciation through...

Accounting
Q

Magnolia Company's Division A has operating income of $94,000 and assets of $305,000. The minimum...

Accounting
Q

Bailey Delivery Company, Inc., was organized in 2018 in Wisconsin. The following transactions occurred during...

Accounting
Q

Given the situations below, which item still has the same basis as when it was...

Accounting