Problem 2-19 Calculating Cash Flows [LO2] Martinez Industries had the following operating results for 2021: Sales $34,924; Cost of goods sold = $24, 506; Depreciation expense = $6,057; Interest expense = $ 2,740; Dividends paid $2,050. At the beginning of the year, net fixed assets were $20,000, current assets were $7,096, and current liabilities were $4,028. At the end of the year, net fixed assets were $24,556, current assets were $8,720, and current liabilities were $4,727. 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.) c. 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 calculations and round your answer to the nearest whole number, e. g., 32.) Answer is not complete. \table[[a. Net income,S, 1,248 a. Net income Answer is not complete. 1,248 b. Operating cash flow c. Cash flow from assets d-1. Cash flow to creditors 2,740 6 d-2. Cash flow to stockholders
Problem 2-19 Calculating Cash Flows [LO2] Martinez Industries had the following operating results for 2021: Sales $34,924; Cost of goods sold = $24, 506; Depreciation expense = $6,057; Interest expense = $ 2,740; Dividends paid $2,050. At the beginning of the year, net fixed assets were $20,000, current assets were $7,096, and current liabilities were $4,028. At the end of the year, net fixed assets were $24,556, current assets were $8,720, and current liabilities were $4,727. 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.) c. 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 calculations and round your answer to the nearest whole number, e. g., 32.) Answer is not complete. \table[[a. Net income,S, 1,248 a. Net income Answer is not complete. 1,248 b. Operating cash flow c. Cash flow from assets d-1. Cash flow to creditors 2,740 6 d-2. Cash flow to stockholders
Chapter1: Financial Statements And Business Decisions
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![Problem 2-19 Calculating Cash Flows [LO2] Martinez
Industries had the following operating results for 2021:
Sales = $34,924; Cost of goods sold = $24, 506;
Depreciation expense = $6,057; Interest expense = $
2,740; Dividends paid = $2,050. At the beginning of
the year, net fixed assets were $20,000, current assets
were $7,096, and current liabilities were $4,028. At the
end of the year, net fixed assets were $24, 556, current
assets were $8,720, and current liabilities were $4,727.
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.) c. 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 calculations and round your answer
to the nearest whole number, e.g., 32.) Answer is not
complete. \table[la. Net income,S,1,248
Answer is not complete.
a. Net income
b. Operating cash flow
c. Cash flow from assets
1,248
d-1. Cash flow to creditors
15
2,740
d-2. Cash flow to stockholders](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1fd5aeac-9b08-45da-b64c-038f0c893453%2F50beae20-7808-4ecd-8dbf-7213b4d63e9f%2F1uc5cfd_processed.png&w=3840&q=75)
Transcribed Image Text:Problem 2-19 Calculating Cash Flows [LO2] Martinez
Industries had the following operating results for 2021:
Sales = $34,924; Cost of goods sold = $24, 506;
Depreciation expense = $6,057; Interest expense = $
2,740; Dividends paid = $2,050. At the beginning of
the year, net fixed assets were $20,000, current assets
were $7,096, and current liabilities were $4,028. At the
end of the year, net fixed assets were $24, 556, current
assets were $8,720, and current liabilities were $4,727.
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.) c. 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 calculations and round your answer
to the nearest whole number, e.g., 32.) Answer is not
complete. \table[la. Net income,S,1,248
Answer is not complete.
a. Net income
b. Operating cash flow
c. Cash flow from assets
1,248
d-1. Cash flow to creditors
15
2,740
d-2. Cash flow to stockholders
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