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The 2009 balance sheet of Anna's Tennis Shop, Inc., showed $430,000 in the common stock account and $2.6 million in the additional paid-in-surplus account. The 2010 balance sheet showed $450,000 and $3.05 million in the same two accounts, respectively. Suppose you also know that the firm's net capital spending for 2010 was $875,000 and that the firm reduced its net working capital investment by $69,000. What was the firm's 2010 operating cash flow?

The 2009 balance sheet of Anna's Tennis Shop, Inc., showed $430,000 in the common stock account and $2.6 million in the additional paid-in-surplus account. The 2010 balance sheet showed $450,000 and $3.05 million in the same two accounts, respectively. Suppose you also know that the firm's net capital spending for 2010 was $875,000 and that the firm reduced its net working capital investment by $69,000. What was the firm's 2010 operating cash flow?

FINANCIAL ACCOUNTING
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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The 2009 balance sheet of Anna's Tennis Shop, Inc., showed $430,000 in the common stock account and $2.6 million in the additional paid-in-surplus account. The 2010 balance sheet showed $450,000 and $3.05 million in the same two accounts, respectively. Suppose you also know that the firm's net capital spending for 2010 was $875,000 and that the firm reduced its net working capital investment by $69,000. What was the firm's 2010 operating cash flow?
Transcribed Image Text:The 2009 balance sheet of Anna's Tennis Shop, Inc., showed $430,000 in the common stock account and $2.6 million in the additional paid-in-surplus account. The 2010 balance sheet showed $450,000 and $3.05 million in the same two accounts, respectively. Suppose you also know that the firm's net capital spending for 2010 was $875,000 and that the firm reduced its net working capital investment by $69,000. What was the firm's 2010 operating cash flow?
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