General Accounting Question Solution The 2014 balance sheet of Sugarpova's TennisShop, Inc., showed long-term debt of $5.9 million,and the 2015 balance sheet showed long-term debtof $6.3 million. The 2015 income statement showedan interest expense of $155,000. What was thefirm's cash flow to creditors during 2015?

Step 1: Definition of Creditors:Creditors represent the amount that a firm owes to third parties…

Answered: The 2014 balance sheet of Sugarpova's…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

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ISBN:9781337514835

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Chapter16: Working Capital Policy And Short-term Financing

Section: Chapter Questions

Problem 1P

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The 2014 balance sheet of Sugarpova's Tennis Shop, Inc., showed long- term debt of $3.3 million, and the 2015 balance sheet showed long-term debt of $3.4 million. The 2015 income statement showed an interest expense of $155,000. During 2015, the company had a cash flow to creditors of $55,000 and the cash flow to stockholders for the year was $60,000. Suppose you also know that the firm s net capital spending for 2015 was $1,350,000 and that the firm reduced its net working capital investment by $65,000. What was the firm's 2015 operating cash flow, or OCF?
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The 2014 balance sheet of Sugarpova's Tennis Shop, Inc., showed long-term debt of $5.9 million, and the 2015 balance sheet showed long-term debt of $6.3 million. The 2015 income statement showed an interest expense of $155,000. What was the firm's cash flow to creditors during 2015?