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The December 31, 2013, balance sheet of Schism, Inc., showed long-term debt of $1,280,000, $120,000 in the common stock account and $2,120,000 in the additional paid-in surplus account. The December 31, 2014, balance sheet showed long-term debt of $1,410,000, $135,000 in the common stock account and $2,380,000 in the additional paid-in surplus account. The 2014 income statement demonstrated the interest expenditure of $93,400 and the company paid out $135,000 in cash dividends throughout 2014. The firm’s net capital spending for 2014 was $640,000, and the firm decreased its net working capital investment by $105,000.

Required:

What was the firm’s operating cash flow during 2014?

Financial Accounting, Accounting

  • Category:- Financial Accounting
  • Reference No.:- M93429

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