The 2022 balance sheet of Fast Auto Manufacturers, showed $1.4 million in long-term debt, $470,000 inthe common stock account, and $4.15 million in the additional paid-in surplus account. The 2023balance sheet showed $3.15 million, $755,000, and $6.2 million in the same three accounts, respectively.The 2023 income statement showed an interest expense of $280,000. The company paid out $500,000 incash dividends during 2023.If the firm's net capital spending for 2023 was $330,000, and the firm reduced its net working capitalinvestment by $265,000, what was the firm's 2023 operating cash flow, or OCF?O $-3,240,000O $-4,130,000O $4,530,000$-3,400,000O $5,155,000

OCF = Cash Flow from Assets + ΔNWC + Net Capital SpendingWhere:Cash Flow from Assets is the sum of…

Answered: The 2022 balance sheet of Fast Auto…

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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Hamad Corporation's total sales for 2022 were AED 800 million, and gross profit was AED 100 million, current assets AED 200 , cash AED 10 million, accounts receivables 90 million and account payable 40 million. Calculate accounts payable days , collection period, inventory days and accounts payable turn over.
The 2021 Balance Sheet of Eighty-Five Ltd. show a total of $100,000 in current assets, which is made up of $35,000 (cash), $15,000 (marketable securities), $20,000 (net receivables) and inventories (that make up the difference). If the company’s current liabilities for the year is $55,000, what is its quick ratio? 1.273. 0.780. 1.000. 1.875.
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