Reference no: EM132067143
Question: Quarles Industries had the following operating results for 2015: sales = $31,140; cost of goods sold = $20,160; depreciation expense = $5,580; interest expense = $3,090; dividends paid = $1,850. At the beginning of the year, net fixed assets were $17,180, current assets were $5,940, and current liabilities were $3,525. At the end of the year, net fixed assets were $21,060, current assets were $7,634, and current liabilities were $4,080. The tax rate for 2015 was 30 percent.
a. What is net income for 2015? (Do not round intermediate calculations.) Net income $
b. What is the operating cash flow for 2015? (Do not round intermediate calculations.) Operating cash flow $
c. What is the cash flow from assets for 2015? (Do not round intermediate calculations. Negative amount should be indicated by a minus sign.) Cash flow from assets $
d-1 If no new debt was issued during the year, what is the cash flow to creditors? (Do not round intermediate calculations.) Cash flow to creditors $
d-2 If no new debt was issued during the year, what is the cash flow to stockholders? (Do not round intermediate calculations. Negative amount should be indicated by a minus sign.) Cash flow to stockholders $
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