What is the addition to retained earnings

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Reference no: EM131916805

1. The 2008 balance sheet of Maria's Tennis Shop, Inc., showed $2.6 million in long-term debt, $750,000 in the common stock account, and $6.2 million in the additional paid-in surplus account. The 2009 balance sheet showed $4.2 million, $935,000, and $7.8 million in the same three accounts, respectively. The 2009 income statement showed an interest expense of $310,000. The company paid out $520,000 in cash dividends during 2009. If the firm's net capital spending for 2009 was $670,000, and the firm reduced its net working capital investment by $155,000, the firm's 2009 operating cash flow, or OCF? $2,865,000 $-2,040,000 $-4,110,000 $-3,080,000 $-2,555,000

2. Papa Roach Exterminators, Inc., has sales of $689,000, costs of $225,000, depreciation expense of $53,000, interest expense of $32,000, and a tax rate of 35 percent. If the firm paid out $71,000 in cash dividends. What is the addition to retained earnings? $175,350 $228,350 $207,350 $260,350 $157,815.

Reference no: EM131916805

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