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Keith Corporation Balance Sheets
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December 31
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Assets
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2015
|
2014
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Cash
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$ 1,500
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$ 1,000
|
|
Marketable securities
|
1,800
|
1,200
|
|
Accounts receivable
|
2,000
|
1,800
|
|
Inventories
|
2,900
|
2,800
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|
Total current assets
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$ 8,200
|
$ 6,800
|
|
Gross fixed assets
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$29,500
|
$28,100
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Less: Accumulated depreciation
|
14,700
|
13,100
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|
Net fixed assets
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$14,800
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$15,000
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|
Total assets
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$23,000
|
$21,800
|
|
Liabilities and stockholders' equity
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|
Accounts payable
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$ 1,600
|
$ 1,500
|
|
Notes payable
|
2,800
|
2,200
|
|
Accruals
|
200
|
300
|
|
Total current liabilities
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$ 4,600
|
$ 4,000
|
|
Long-term debt
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5,000
|
5,000
|
|
Total liabilities
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$ 9,600
|
$ 9,000
|
|
Common stock
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$10,000
|
$10,000
|
|
Retained earnings
|
3,400
|
2,800
|
|
Total stockholders' equity
|
$13,400
|
$12,800
|
|
Total liabilities and stockholders' equity
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$23,000
|
$21,800
|
|
|
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Keith Corporation Income Statement Data (2015)
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Depreciation expense
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$1,600
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|
Earnings before interest and taxes (EBIT)
|
2,700
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Interest expense
|
367
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|
Net profits after taxes
|
1,400
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Tax rate
|
40%
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Calculate the firm's operating cash flow (OCF) for the year ended December 31, 2015 Please show formulas