Business, 18.02.2021 21:10 shamiya15

Cardinal Industries had the following operating results for 2018: Sales = $35,126; Cost of goods sold = $24,604; Depreciation expense = $6,077; Interest expense = $2,750; Dividends paid = $2,068. At the beginning of the year, net fixed assets were $20,020, current assets were $7,110, and current liabilities were $4,040. At the end of the year, net fixed assets were $24,574, current assets were $8,732, and current liabilities were $4,745. The tax rate for 2018 was 25 percent. a. What is net income for 2018? (Do not round intermediate calculations.)
b. What is the operating cash flow for 2018? (Do not round intermediate calculations.)
c. What is the cash flow from assets for 2018? (Do not round intermediate calculations. A negative answer should be indicated by a minus sign.)
d-1. If no new debt was issued during the year, what is the cash flow to creditors? (Do not round intermediate calculations.)
d-2. If no new debt was issued during the year, what is the cash flow to stockholders? (Do not round intermediate calculations. A negative answer should be indicated by a minus sign.)
a. Net income
b. Operating cash flow
c. Cash flow from assets
d-1. Cash flow to creditors
d-2. Cash flow to stockholders

Answers: 2

Show answers

Another question on Business

Business, 22.06.2019 10:10

True tomato inc. makes organic ketchup. to promote its products, this firm decided to make bottles in the shape of tomatoes. to accomplish this, true tomato worked with its bottle manufacture to create a set of unique molds for its bottles. which of the following specialized assets does this example demonstrate? (a) site specificity (b) research specificity (c) physical-asset specificity (d) human-asset specificity

Answers: 3

Answer

Business, 22.06.2019 10:50

You are evaluating two different silicon wafer milling machines. the techron i costs $285,000, has a three-year life, and has pretax operating costs of $78,000 per year. the techron ii costs $495,000, has a five-year life, and has pretax operating costs of $45,000 per year. for both milling machines, use straight-line depreciation to zero over the project’s life and assume a salvage value of $55,000. if your tax rate is 24 percent and your discount rate is 11 percent, compute the eac for both machines.

Answers: 3

Answer

Business, 22.06.2019 11:10

Use the following account numbers and corresponding account titles to answer the following question. account no. account title (1) cash (2) merchandise inventory (3) cost of goods sold (4) transportation-out (5) dividends (6) common stock (7) selling expense (8) loss on the sale of land (9) sales which accounts would appear on the income statement?

Answers: 3

Answer

Business, 22.06.2019 12:30

On june 1, 2017, blossom company was started with an initial investment in the company of $22,360 cash. here are the assets, liabilities, and common stock of the company at june 30, 2017, and the revenues and expenses for the month of june, its first month of operations: cash $4,960 notes payable $12,720 accounts receivable 4,340 accounts payable 840 service revenue 7,860 supplies expense 1,100 supplies 2,300 maintenance and repairs expense 700 advertising expense 400 utilities expense 200 equipment 26,360 salaries and wages expense 1,760 common stock 22,360 in june, the company issued no additional stock but paid dividends of $1,660. prepare an income statement for the month of june.

Answers: 3

Answer

You know the right answer?

Cardinal Industries had the following operating results for 2018: Sales = $35,126; Cost of goods sol...

Questions