Problemthe 2011 balance sheet of annas tennis shop inc, Ask an Expert

Accounting

Problem:

The 2011 balance sheet of Anna's Tennis Shop, Inc., showed long-term debt of $5.6 million, and the 2012 balance sheet showed long-term debt of $5.85 million. The 2012 income statement showed an interest expense of $185,000. The 2011 balance sheet of Anna's Tennis Shop, Inc., showed $550,000 in the common stock account and $4.7 million in the additional paid-in surplus account. The 2012 balance sheet showed $590,000 and $5.1 million in the same two accounts, respectively. The company paid out $555,000 in cash dividends during 2012. Suppose you also know that the firm's net capital spending for 2012 was $1,410,000, and that the firm reduced its net working capital investment by $77,000.

Required:

Question: What was the firm's 2012 operating cash flow, or OCF?

Note: Provide support for rationale.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91166706

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