The December 31, 2021, balance sheet of Chen, Incorporated, showed long-termdebt of $1,400,000, $140,000 in the common stock account, and $2,650,000 in theadditional paid - in surplus account. The December 31, 2022, balance sheet showedlong-term debt of $1,580, 000, $150,000 in the common stock account and $2,950,000 in the additional paid - in surplus account. The 2022 income statementshowed an interest expense of $94, 000 and the company paid out $145,000 incash dividends during 2022. The firm's net capital spending for 2022 was $960,000, and the firm reduced its net working capital investment by $125,000.What was the firm's 2022 operating cash flow, or OCF?

Operating cash flows (OCF) are the cash flows generated from normal operations- Selling and…

Answered: The December 31, 2021, balance sheet of…

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

Section: Chapter Questions

Problem 1PS

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