The 2023 balance sheet of Swiatek's Tennis Shop, Incorporated, showed long-term debt of $3.5 million, and the 2024 balance sheet showed long-term debt of $3.7 million. The 2024 income statement showed an interest expense of $ 115,000. What was the firm's cash flow to creditors during 2024 ? Note: A negative answer should be indicated by a minus sign. Enter your answer in dollars, not millions of dollars, e.g 1,234,567.

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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The 2023 balance sheet of Swiatek's Tennis Shop,
Incorporated, showed long-term debt of $3.5 million, and the
2024 balance sheet showed long-term debt of $3.7 million.
The 2024 income statement showed an interest expense of $
115,000. What was the firm's cash flow to creditors during
2024 ?
Note: A negative answer should be indicated by a minus sign.
Enter your answer in dollars, not millions of dollars, e.g
1,234,567.
Transcribed Image Text:The 2023 balance sheet of Swiatek's Tennis Shop, Incorporated, showed long-term debt of $3.5 million, and the 2024 balance sheet showed long-term debt of $3.7 million. The 2024 income statement showed an interest expense of $ 115,000. What was the firm's cash flow to creditors during 2024 ? Note: A negative answer should be indicated by a minus sign. Enter your answer in dollars, not millions of dollars, e.g 1,234,567.
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