Need answer of these accounting problem 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?

Step 1: We calculate the net new long-term debt. Net New Long-Term Debt = Long-term debt (2021) -…

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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Considering that the credit policy of Steward (Pty) Ltd is 90 days, which one of the following statements is true when analysing the debtor’s collection period? A. The debtor’s collection period improved from 2020 to 2021, and the company is still collecting debtors within their credit policy terms of 90 days. B. The debtor’s collection period improved from 2020 to 2021, which is also good for the cash flow of the company. C. The debtor’s collection period worsened from 2020 to 2021, and the company is not collecting debtors within their credit policy terms of 90 days. D. The debtor’s collection period worsened from 2020 to 2021, but debtor’s are collected within their credit policy terms of 90 days. E. The debtor’s collection period remained constant from 2020 to 2021.
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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?