FINA 6320 The 2014 balance sheet of Jordan’s Golf Shop
Question # 00380121
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Updated on: 09/06/2016 06:16 AM Due on: 09/06/2016
The 2014 balance sheet of Jordan’s Golf Shop, Inc., showed long-term debt of $5.2 million, and the 2015 balance sheet showed long-term debt of $5.45 million. The 2015 income statement showed an interest expense of $170,000. The 2014 balance sheet showed $520,000 in the common stock account and $5.5 million in the additional paid-in surplus account. The 2015 balance sheet showed $560,000 and $5.7 million in the same two accounts, respectively. The company paid out $415,000 in cash dividends during 2015. Suppose you also know that the firm’s net capital spending for 2015 was $1,380,000, and that the firm reduced its net working capital investment by $71,000. |
| What was the firm’s 2015 operating cash flow, or OCF? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567.) |
| Operating cash flow | $ |
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Solution: FINA 6320 The 2014 balance sheet of Jordan’s Golf Shop