Please provide correct answer Question:The 2020 balance sheet of Serena's SportsGear, Inc., showed long-term debt of $4.5million, and the 2021 balance sheet showedlong-term debt of $5.1 million. The 2021income statement showed an interest expenseof $135,000. What was the firm's cash flowto creditors during 2021?

Concepts:- Cash flow to creditors = Interest paid + Net reduction in LT debt- Net reduction =…

Answered: Question: The 2020 balance sheet of…

Fundamentals Of Financial Management, Concise Edition (mindtap Course List)

10th Edition

ISBN:9781337902571

Author:Eugene F. Brigham, Joel F. Houston

Publisher:Eugene F. Brigham, Joel F. Houston

Chapter3: Financial Statements, Cash Flow, And Taxes

Section: Chapter Questions

Problem 19SP

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1. What is AT&T’s current ratio for 2019? 2018? Did it increase or decrease? What does that tell you about AT&T’s ability to pay its short term debts? 2. What was AT&T’s Profit Margin Ratio for 2019? 2018? Did it increase or decrease? Why would AT&T’s investors want to know this? 3. What was AT&T’s Debt Ratio for 2019? 2018? Did it increase or decrease? Why would AT&T’s lenders want to know this?
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am.184.
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Question: The 2020 balance sheet of Serena's Sports Gear, Inc., showed long-term debt of $4.5 million, and the 2021 balance sheet showed long-term debt of $5.1 million. The 2021 income statement showed an interest expense of $135,000. What was the firm's cash flow to creditors during 2021?