The December 31, 2021, balance sheet of Chen, Incorporated, showed long-term debt of $1,460,000 and the December 31, 2022, balance sheet showed long-term debt of $1,700,000. The 2022 income statement showed an interest expense of $100,000. What was the firm's cash flow to creditors during 2022? Note: A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole number, e.g. 32. Cash flow to creditors
The December 31, 2021, balance sheet of Chen, Incorporated, showed long-term debt of $1,460,000 and the December 31, 2022, balance sheet showed long-term debt of $1,700,000. The 2022 income statement showed an interest expense of $100,000. What was the firm's cash flow to creditors during 2022? Note: A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole number, e.g. 32. Cash flow to creditors
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
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Transcribed Image Text:The December 31, 2021, balance sheet of Chen, Incorporated, showed long-term debt of $1,460,000 and the December 31, 2022,
balance sheet showed long-term debt of $1,700,000. The 2022 income statement showed an interest expense of $100,000. What was
the firm's cash flow to creditors during 2022?
Note: A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to
the nearest whole number, e.g.. 32.
Cash flow to creditors
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