Prescott Football Manufacturing had the following operating results for 2019 sales = $30,074; cost of goods sold = $21,704; depreciation expense = $3,498; interest expense = $534; dividends paid = $841. At the beginning of the year, fixed assets were $19,988, current assets were $3,205, and current liabilities were $3,554. At the end of the year, net fixed assets were $23,047, current assets were $4,425, and current liabilities were $3,045. The tax rate for 2019 was 24 percent. A. What is net income for 2019? B. What is the operating cash flow for 2019? C. What is the cash flow from assets for 2019? D. Assume no new debt was issued during the year. What is the cash flow to

Prescott Football Manufacturing had the following operating results for 2019 sales = $30,074; cost of goods sold = $21,704; depreciation expense = $3,498; interest expense = $534; dividends paid = $841. At the beginning of the year, fixed assets were $19,988, current assets were $3,205, and current liabilities were $3,554. At the end of the year, net fixed assets were $23,047, current assets were $4,425, and current liabilities were $3,045. The tax rate for 2019 was 24 percent. A. What is net income for 2019? B. What is the operating cash flow for 2019? C. What is the cash flow from assets for 2019? D. Assume no new debt was issued during the year. What is the cash flow to

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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