The 2022 balance sheet of Alpine Sports Equipment, Inc., showed long-term debt of $8.5 million, and the 2023 balance sheet showed long-term debt of $9.2 million. The 2023 income statement showed an interest expense of $245,000. What was the firm's cash flow to creditors during 2023?
The 2022 balance sheet of Alpine Sports Equipment, Inc., showed long-term debt of $8.5 million, and the 2023 balance sheet showed long-term debt of $9.2 million. The 2023 income statement showed an interest expense of $245,000. What was the firm's cash flow to creditors during 2023?
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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The 2022

Transcribed Image Text:The 2022 balance sheet of Alpine Sports Equipment, Inc.,
showed long-term debt of $8.5 million, and the 2023 balance
sheet showed long-term debt of $9.2 million. The 2023 income
statement showed an interest expense of $245,000. What was
the firm's cash flow to creditors during 2023?
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