Please show complete steps thanks and correctly. If you are using excel show cell referencing and explain also pls. The December 31, 2021, balance sheet of Chen, Incorporated, showed long-term debt of $1,390,000, $138,000 in the common stockaccount, and $2,630,000 in the additional paid-in surplus account. The December 31, 2022, balance sheet showed long-term debt of$1,560,000, $148,000 in the common stock account and $2,930,000 in the additional paid-in surplus account. The 2022 incomestatement showed an interest expense of $93,000 and the company paid out $143,000 in cash dividends during 2022. The firm's netcapital spending for 2022 was $940,000, and the firm reduced its net working capital investment by $123,000. What was the firm's2022 operating cash flow, or OCF?Note: A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer tothe nearest whole number, e.g., 32.Answer is complete but not entirely correct.Operating cash flow$ 1,533,000

Profit and loss account, balance sheet and cash flow statement are the three main financial…

Answered: Answer is complete but not entirely…

Business

Accounting

Answer is complete but not entirely correct. Operating cash flow $ 1,533,000 X

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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