Nanticoke Industries had the following operating results for 2020: Sales = $30,780; Cost of goods sold = $ 20, 110; Depreciation expense = $5, 540; Interest expense = $2,940; Dividends paid = $1,800. At the beginning of the year, Net fixed assets = $17,390, Current assets = $5,930, Current liabilities = $3,500. At the end of the year, Net fixed assets = $21,010, Current assets = $7,390, Current liabilities = $4,060. The tax rate for 2020 was 30% . a. What is net income for 2020? (Negative answer should be indicated by a minus sign. Omit $ sign in your response.) Net income $ b. What is the operating cash flow for 2020? (Negative answer should be indicated by a minus sign. Omit $ sign in your response.) Operating cash flow $ c. What is the cash flow from assets for 2020? (Negative answer should be indicated by a minus sign. Omit $ sign in your response.) Cash flow from assets $

Nanticoke Industries had the following operating results for 2020: Sales = $30,780; Cost of goods sold = $ 20, 110; Depreciation expense = $5, 540; Interest expense = $2,940; Dividends paid = $1,800. At the beginning of the year, Net fixed assets = $17,390, Current assets = $5,930, Current liabilities = $3,500. At the end of the year, Net fixed assets = $21,010, Current assets = $7,390, Current liabilities = $4,060. The tax rate for 2020 was 30% . a. What is net income for 2020? (Negative answer should be indicated by a minus sign. Omit $ sign in your response.) Net income $ b. What is the operating cash flow for 2020? (Negative answer should be indicated by a minus sign. Omit $ sign in your response.) Operating cash flow $ c. What is the cash flow from assets for 2020? (Negative answer should be indicated by a minus sign. Omit $ sign in your response.) Cash flow from assets $

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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