Titan Football Manufacturing had the following operating results for 2014: Sales $19,800 Cost of goods sold $13,960 Depreciation expense $2,350 Interest expense Dividends paid $335 $570. At the beginning of the year, net fixed assets were $14,800, current assets were $2,960, and current liabilities were $2,050. At the end of the year, net fixed assets were $17,540, current assets were $3,320, and current liabilities were $2,140. The tax rate for 2014 was 30%. A. What is the net income for 2014. B. What is the operating cash flow during 2014.

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
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Chapter12: Balanced Scorecard And Other Performance Measures
Section: Chapter Questions
Problem 6EA: During the current year, Sokowski Manufacturing earned income of $350,000 from total sales of...
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Titan football manufacturing had the following solve this question general Accounting

Titan Football Manufacturing had the following operating results for
2014:
Sales
$19,800
Cost of goods sold $13,960
Depreciation expense $2,350
Interest expense
Dividends paid
$335
$570.
At the beginning of the year, net fixed assets were $14,800, current
assets were $2,960, and current liabilities were $2,050. At the end of the
year, net fixed assets were $17,540, current assets were $3,320, and
current liabilities were $2,140. The tax rate for 2014 was 30%.
A. What is the net income for 2014.
B. What is the operating cash flow during 2014.
Transcribed Image Text:Titan Football Manufacturing had the following operating results for 2014: Sales $19,800 Cost of goods sold $13,960 Depreciation expense $2,350 Interest expense Dividends paid $335 $570. At the beginning of the year, net fixed assets were $14,800, current assets were $2,960, and current liabilities were $2,050. At the end of the year, net fixed assets were $17,540, current assets were $3,320, and current liabilities were $2,140. The tax rate for 2014 was 30%. A. What is the net income for 2014. B. What is the operating cash flow during 2014.
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ISBN:
9781947172609
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OpenStax
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