Reference no: EM131262845
Quarles Industries had the following operating results for 2015: sales = $29,800; cost of goods sold = $19,960; depreciation expense = $5,420; interest expense = $2,790; dividends paid = $1,650. At the beginning of the year, net fixed assets were $17,510, current assets were $5,900, and current liabilities were $3,425. At the end of the year, net fixed assets were $20,860, current assets were $7,146, and current liabilities were $4,030. 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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