Reference no: EM131356070
Quarles Industries had the following operating results for 2015: sales = $30,780; cost of goods sold = $20,110; depreciation expense = $5,540; interest expense = $2,940; dividends paid = $1,800. At the beginning of the year, net fixed assets were $17,390, current assets were $5,930, and current liabilities were $3,500. At the end of the year, net fixed assets were $21,010, current assets were $7,390, and current liabilities were $4,060. 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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: Quarles Industries had the following operating results for 2015: sales = $30,780; cost of goods sold = $20,110; depreciation expense = $5,540; interest expense = $2,940; dividends paid = $1,800. What is the operating cash flow for 2015? If no new deb..
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