Solution-What was the cash flow to creditors

What was the cash flow to creditors

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Reference no: EM132971145

Galaxy Industries had the following operating results for 2020:

Sales - $51,520
Cost of Goods Sold - $38,800
Depreciation Expenses - $5,260
Interest Expenses - $1,660
Dividends Paid - $2,330

At the beginning of the year:

Net Fixed Assets - $35,020
Current Assets - $6,210
Current Liabilities - $4,490

At the end of the year:

Net Fixed Assets - $45,730
Current Assets - $8,260
Current Liabilities - $5,870
Tax rate was 26%

Problem 1: What was the net income for 2020? (NOTE: Put together an Income Statement in Excel using the information above).

Problem 2: What was the operating cash flow for 2020?

Problem 3: What was the cash flow from assets for 2020? Is this possible? Explain.

Problem 4: Was new debt issued during the year? If so, explain how you could determine this?

Problem 5: What was the cash flow to creditors?

Problem 6: What was the cash flow to stockholders?

Reference no: EM132971145

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What was the cash flow to creditors

Reference no: EM132971145

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