Provide correct solution general accounting The 2022 balance sheet of Mountain Gear Corporation showed long-term debt of $6.8 million, and the 2023 balance sheet showed long-term debt of $7.3 million. The 2023 income statement showed aninterest expense of $185,000. What was the firm's cash flow tocreditors during 2023?

To figure out the cash flow to creditors during 2023, we need to take into account both the interest…

Answered: The 2022 balance sheet of Mountain Gear…

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter6: Accounting For Financial Management

Section: Chapter Questions

Problem 12P

See similar textbooks

Similar questions

The December 31, 2021, balance sheet of Chen, Incorporated, showed long-term debt of $1.38 million, and the December 31, 2022, balance sheet showed long-term debt of $1.52 million. The 2022 income statement showed an interest expense of $104,500. What was the firm’s cash flow to creditors during 2022?
The December 31, 2021, balance sheet of Chen, Incorporated, showed long-term debt of $1,470,000 and the December 31, 2022, balance sheet showed long-term debt of $1,720,000. The 2022 income statement showed an interest expense of $101,000. What was the firm's cash flow to creditors during 2022?
The 2019 balance sheet of Dyrdek’s Skate Shop, Inc., showed long-term debt of $5.2 million, and the 2020 balance sheet showed long-term debt of $5.4 million. The 2020 income statement showed an interest expense of $125,000. What was the firm’s cash flow to creditors during 2020
Given the data in the following table, what was net cash flow from investing activities for 2023?
The 2022 balance sheet of Fast Auto Manufacturers, showed $1.4 million in long-term debt, $470,000 in the common stock account, and $4.15 million in the additional paid-in surplus account. The 2023 balance 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 in cash dividends during 2023. If the firm's net capital spending for 2023 was $330,000, and the firm reduced its net working capital investment by $265,000, what was the firm's 2023 operating cash flow, or OCF? O $-3,240,000 O $-4,130,000 O $4,530,000 $-3,400,000 O $5,155,000
In 2022, a makeup cash flow from assets was $8,980, cash flow to creditors was $890, and cash flow to stockholders was 8,090. 1. Briefly comment on the company’s cash flows for 2022 in light of an expansion plan which will be financed by both debt and equity. Stating all the positives and implications that may be possible.
On BeDeM Inc.'s 2023 income statement, you observe that: Sales $212,000 Cost of Sales = $50,000 Depreciation and Amortization . Other Income $0 = $42,000 From BeDeM Inc.'s 2023 statement of cash flows, you observe that the firm distributed $39,000 as dividends to its stockholders, which was 75% of its net income in 2023. Given that the firm's operating expenses were $51,000 in 2023, and earnings are taxed at 21%. (a) Calculate the firm's EBITDA in 2023. (b) Find the firm's EBITDA/Interest Coverage ratio in 2023.
At the end of the year 2020, the common equity was 490,000, and the dividends paid in the year 2021 was $11,000. What is the free cash flow to equity for the year 2021? Assets Cash and Cash Equivalents Short-term Investments Inventory Accounts Receivables Total Current Assets Fixed Assets Total Assets 128,000 -106,000 106,000 -128,000 2021 63,000 3,000 21,000 20,000 107,000 650,000 757,000 Liabilities. Current Liabilities Long-term Liabilities Total Liabilities Total Common Equity 2021 40,000 120,000 150,000 607,000
Given the data in the following table, the Net Profit Margin in 2023 was… % (table is attached) 1) 12.74 2 ) 16.73 3) 15.49 4) 11.69 5) 10.62
In 2022, a makeup company cash flow from assets was $8,980, cash flow to creditors was $890, and cash flow to stockholders was 8,090. 1. Briefly comment on the company’s cash flows for 2022 in light of an expansion plan which will be financed by both debt and equity. Stating all the positives and implications that may be possible.
The 2023 balance sheet of Swiatek’s Tennis Shop, Incorporated, showed long-term debt of $2.4 million, and the 2024 balance sheet showed long-term debt of $2.73 million. The 2024 income statement showed an interest expense of $265,000. During 2024, the firm realized the following: Cash flow to creditors −$ 65,000 Cash flow to stockholders $ 309,000 Suppose you also know that the firm’s net capital spending for 2024 was $1.5 million and that the firm reduced its net working capital investment by $55,000. What was the firm’s 2024 operating cash flow, or OCF?
The 2020 balance sheet of Osaka's Tennis Shop, Incorporated, showed long-term debt of $2.5 million, and the 2021 balance sheet showed long-term debt of $2.65 million. The 2021 income statement showed an interest expense of $100,000. What was the firm's cash flow to creditors during 2021? (A negative answer should be indicated by a minus sign. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567.) Cash flow to creditors

SEE MORE QUESTIONS

Recommended textbooks for you

Intermediate Financial Management (MindTap Course…

Finance

ISBN:

9781337395083

Author:

Eugene F. Brigham, Phillip R. Daves

Publisher:

Cengage Learning

Fundamentals Of Financial Management, Concise Edi…

Finance

ISBN:

9781337902571

Author:

Eugene F. Brigham, Joel F. Houston

Publisher:

Cengage Learning

Corporate Fin Focused Approach

Finance

ISBN:

9781285660516

Author:

EHRHARDT

Publisher:

Cengage

Intermediate Financial Management (MindTap Course…

Finance

ISBN:

9781337395083

Author:

Eugene F. Brigham, Phillip R. Daves

Publisher:

Cengage Learning

Fundamentals Of Financial Management, Concise Edi…

Finance

ISBN:

9781337902571

Author:

Eugene F. Brigham, Joel F. Houston

Publisher:

Cengage Learning

Corporate Fin Focused Approach

Finance

ISBN:

9781285660516

Author:

EHRHARDT

Publisher:

Cengage

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

SEE MORE TEXTBOOKS

The 2022 balance sheet of Mountain Gear Corporation showed long- term debt of $6.8 million, and the 2023 balance sheet showed long- term debt of $7.3 million. The 2023 income statement showed an interest expense of $185,000. What was the firm's cash flow to creditors during 2023?