2 Award: 6 out of 10.00 points Quarles Industries had the following operating re

Question

2 Award: 6 out of 10.00 points Quarles Industries had the following operating results for 2015: sales $30,180, cost of goods sold $19,860: depreciation expense $5,340; interest expense $2,790; dividends paid$1,550. At the beginning of the year, net fixed assets were $17,210, current assets were $5,880, and current liabilities were $3,375. At the end of the year, net fixed assets were $20,760, current assets were $7,600, and current liabilities were $4,000. The tax rate for 2015 was 30 percent a. What is net income for 2015? (Do not round intermediate calculations.) Net income$1,533 Operating cash fow9,663 0 amount should be indicated by a minus sign.) b. What is the operating cash flow for 2015? (Do not round intermediate calculations.) c. What is the cash flow from assets for 2015? (Do not round intermediate calculations. Negative Cash flow from assets $-322 Ol d-1 If no riew debt was issued during the year, what is the cash flow to creditiors? (Do not round intermediate calculations.) Cash flow to creditors ulls-3.112 o d-2 If no new debt was issued during the year, what is the cash flow to stockholders? (Do not round intermediate calculations. Negative amount should be indicated by a minus sign.) Cash flow to stockholders s 2,790 References Worksheet Difficulty: Intermediate Learning Objective: 02-02 The difference be

Explanation / Answer

Cash flow to creditors = Interest - Net new LTD
Cash flow to creditors = $2,790 - $0
Cash flow to creditors = $2,790

Cash flow to stockholders = Cash flow from assets ? Cash flow to creditors
Cash flow to stockholders = -$322 - $2,790
Cash flow to stockholders = -$3,112

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