The December 31, 2018, balance sheet of Whelan, Inc., showed long-term debt of $1,385,000, $137,000 in the common stock account, and $2,620,000 in the additional paid-in surplus account. The December 31, 2019, balance sheet showed long-term debt of $1,550,000, $147,000 in the common stock account and $2,920,000 in the additional paid-in surplus account. The 2019 income statement showed an interest expense of $92,500 and the company paid out $142,000 in cash dividends during 2019. The firm's net capital spending for 2019 was $930,000, and the firm reduced its net working capital investment by $122,000. What was the firm's 2019 operating cash flow, or OCF? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to the nearest whole number, e.g., 1,234,567.) Operating cash flow
The December 31, 2018, balance sheet of Whelan, Inc., showed long-term debt of $1,385,000, $137,000 in the common stock account, and $2,620,000 in the additional paid-in surplus account. The December 31, 2019, balance sheet showed long-term debt of $1,550,000, $147,000 in the common stock account and $2,920,000 in the additional paid-in surplus account. The 2019 income statement showed an interest expense of $92,500 and the company paid out $142,000 in cash dividends during 2019. The firm's net capital spending for 2019 was $930,000, and the firm reduced its net working capital investment by $122,000. What was the firm's 2019 operating cash flow, or OCF? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to the nearest whole number, e.g., 1,234,567.) Operating cash flow
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter21: The Statement Of Cash Flows
Section: Chapter Questions
Problem 13P: Comprehensive The following are Farrell Corporations balance sheets as of December 31, 2019, and...
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![The December 31, 2018, balance sheet of Whelan, Inc., showed long-term debt of $1,385,000, $137,000 in
the common stock account, and $2,620,000 in the additional paid-in surplus account. The December 31,
2019, balance sheet showed long-term debt of $1,550,000, $147,000 in the common stock account and
$2,920,000 in the additional paid-in surplus account. The 2019 income statement showed an interest
expense of $92,500 and the company paid out $142,000 in cash dividends during 2019. The firm's net
capital spending for 2019 was $930,000, and the firm reduced its net working capital investment by
$122,000.
What was the firm's 2019 operating cash flow, or OCF? (A negative answer should be indicated by a
minus sign. Do not round intermediate calculations and enter your answer in dollars, not millions of
dollars, rounded to the nearest whole number, e.g., 1,234,567.)
Operating cash flow](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc1dc159a-7c6f-4fcc-ad31-ccab0a3734f1%2F5a798219-20a7-48ff-87a2-a45d5fc07db0%2Ffh670dp_processed.png&w=3840&q=75)
Transcribed Image Text:The December 31, 2018, balance sheet of Whelan, Inc., showed long-term debt of $1,385,000, $137,000 in
the common stock account, and $2,620,000 in the additional paid-in surplus account. The December 31,
2019, balance sheet showed long-term debt of $1,550,000, $147,000 in the common stock account and
$2,920,000 in the additional paid-in surplus account. The 2019 income statement showed an interest
expense of $92,500 and the company paid out $142,000 in cash dividends during 2019. The firm's net
capital spending for 2019 was $930,000, and the firm reduced its net working capital investment by
$122,000.
What was the firm's 2019 operating cash flow, or OCF? (A negative answer should be indicated by a
minus sign. Do not round intermediate calculations and enter your answer in dollars, not millions of
dollars, rounded to the nearest whole number, e.g., 1,234,567.)
Operating cash flow
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