Reference no: EM13977851
During the year, Belyk Paving Co. had sales of $2,383,000. Cost of goods sold, administrative and selling expenses, and depreciation expense were $1,442,000, $436,700, and $491,700, respectively. In addition, the company had an interest expense of $216,700 and a tax rate of 40 percent (ignore any tax loss carry back or carry forward provisions.). Belyk Paving Co. paid out $372,000 in cash dividends. Assume that net capital spending was zero, no new investments were made in net working capital, and no new stock was issued during the year. (Enter your answer as directed, but do not round intermediate calculations.) Required: Calculate the firm's new long-term debt added during the year.
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: During the year, Belyk Paving Co. had sales of $2,383,000. Cost of goods sold, administrative and selling expenses, and depreciation expense were $1,442,000, $436,700, and $491,700, respectively. Calculate the firm's new long-term debt added during ..
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