Reference no: EM131536978
Mitchell Industries had the following operating results for 2014: sales = $30,300; cost of goods sold = $20,210; depreciation expense = $5,620; interest expense = $3,090; dividends paid = $1,900. At the beginning of the year, net fixed assets were $17,330, current assets were $5,950, and current liabilities were $3,550. At the end of the year, net fixed assets were $21,110, current assets were $7,030, and current liabilities were $4,090. The tax rate for 2014 was 30 percent.
a. What was net income for 2014? (Do not round intermediate calculations.)
b. What was the operating cash flow for 2014? (Do not round intermediate calculations.)
c. What was the cash flow from assets for 2014? (Do not round intermediate calculations. Negative amount should be indicated by a minus sign.)
d.-1 If no new debt was issued during the year, what was the cash flow to creditors? (Do not round intermediate calculations.)
d-2 If no new debt was issued during the year, what was the cash flow to stockholders? (Do not round intermediate calculations. Negative amount should be indicated by a minus sign.)