Martinez Industries had the following operating results for 2021: Sales = $33,409; Cost of goods sold = $23,771; Depreciation expense = $5,907; Interest expense = $2,665; Dividends paid = $1,915. At the beginning of the year, net fixed assets were $19,850, current assets were $6,991, and current liabilities were $3,938. At the end of the year, net fixed assets were $24,421, current assets were $8,630, and current liabilities were $4,592. The tax rate for 2021 was 23 percent. What is net income for 2021? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) b. What is the operating cash flow for 2021? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) What is the cash flow from assets for 2021? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) d-1. If no new debt was issued during the year, what is the cash flow to creditors? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) d-2. If no new debt was issued during the year, what is the cash flow to stockholders? (A negative answer should be indicated by a minus sign. Do not round intermediate a. C.
Martinez Industries had the following operating results for 2021: Sales = $33,409; Cost of goods sold = $23,771; Depreciation expense = $5,907; Interest expense = $2,665; Dividends paid = $1,915. At the beginning of the year, net fixed assets were $19,850, current assets were $6,991, and current liabilities were $3,938. At the end of the year, net fixed assets were $24,421, current assets were $8,630, and current liabilities were $4,592. The tax rate for 2021 was 23 percent. What is net income for 2021? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) b. What is the operating cash flow for 2021? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) What is the cash flow from assets for 2021? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) d-1. If no new debt was issued during the year, what is the cash flow to creditors? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) d-2. If no new debt was issued during the year, what is the cash flow to stockholders? (A negative answer should be indicated by a minus sign. Do not round intermediate a. C.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Show all if not then specifically c, d1, d2. If you do all parts I'll definitely rate
Transcribed Image Text:X Answer is complete but not entirely correct.
a. Net income
b. Operating cash flow
c. Cash flow from assets
d-1. Cash flow to creditors
d-2. Cash flow to stockholders
$
GA
$
$
$
$
821
9,393
2,070 X
2,665
4,735 X
Transcribed Image Text:Martinez Industries had the following operating results for 2021: Sales = $33,409; Cost of
goods sold = $23,771; Depreciation expense
$5,907; Interest expense = $2,665;
Dividends paid = $1,915. At the beginning of the year, net fixed assets were $19,850,
current assets were $6,991, and current liabilities were $3,938. At the end of the year,
net fixed assets were $24,421, current assets were $8,630, and current liabilities were
$4,592. The tax rate for 2021 was 23 percent.
a. What is net income for 2021? (Do not round intermediate calculations and round
your answer to the nearest whole number, e.g., 32.)
b. What is the operating cash flow for 2021? (Do not round intermediate calculations
and round your answer to the nearest whole number, e.g., 32.)
What is the cash flow from assets for 2021? (A negative answer should be
indicated by a minus sign. Do not round intermediate calculations and round your
answer to the nearest whole number, e.g., 32.)
d-1. If no new debt was issued during the year, what is the cash flow to creditors? (Do
not round intermediate calculations and round your answer to the nearest whole
number, e.g., 32.)
d-2. If no new debt was issued during the year, what is the cash flow to stockholders? (A
negative answer should be indicated by a minus sign. Do not round intermediate
seisuleti
C.
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