The december. ..accounting questions The December 31, 2009, balance sheet of Schism, Inc., showed long-term debt of $1.415 million,$143,000 in the common stock account, and $2.68 million in the additional paid-in surplus account.The December 31, 2010, balance sheet showed long-term debt of $1.61 million, $153,000 in thecommon stock account, and $2.98 million in the additional paid-in surplus account. The 2010 incomestatement showed an interest expense of $95,500 and the company paid out $148,000 in cashdividends during 2010. The firm's net capital spending for 2010 was $990,000, and the firm reducedits net working capital investment by $128,000.What was the firm's operating cash flow during 2010?

Step 1:To calculate the operating cash flow first we need to identify which formula should be used…

Answered: The December 31, 2009, balance sheet of…

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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