The 2017 balance sheet of Kerber's Tennis Shop, Inc., showed $2.9 million in long-term debt,...
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The 2017 balance sheet of Kerber's Tennis Shop, Inc., showed $2.9 million in long-term debt, $780,000 in the common stock account, and $5.95 million in the additional paid-in surplus account. The 2018 balance sheet showed $3.4 million, $885,000, and $7.8 million in the same three accounts, respectively. The 2018 income statement showed an interest expense of $190,000. The company paid out $580,000 in cash dividends during 2018. If the firm's net capital spending for 2018 was $810,000, and the firm reduced its net working capital investment by $125,000, what was the firm's 2018 operating cash flow, or OCF
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