Problem 2-10 Calculating Cash Flows The 2009 balance sheet of Anna's Tennis Shop, Inc., showed...
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Accounting
Problem 2-10 Calculating Cash Flows
The 2009 balance sheet of Anna's Tennis Shop, Inc., showed long-term debt of $1.31 million, $414,000 in the common stock account, and $2.80 million in the additional paid-in surplus account. The 2010 balance sheet showed long-term debt of $1.39 million, $468,000, and $3.11 million in the same two accounts. The 2010 income statement showed an interest expense of $130,000. The company paid out $376,500 in cash dividends during 2010, the firm's net capital spending for 2010 was $870,000, and the firm reduced its net working capital investment by $68,700. Required: What was the firm
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