The 2014 balance sheet of Sugarpova's Tennis Shop, Inc., showed long- term debt of $3.3 million, and the 2015 balance sheet showed long-term debt of $3.4 million. The 2015 income statement showed an interest expense of $155,000. During 2015, the company had a cash flow to creditors of $55,000 and the cash flow to stockholders for the year was $60,000. Suppose you also know that the firm s net capital spending for 2015 was $1,350,000 and that the firm reduced its net working capital investment by $65,000. What was the firm's 2015 operating cash flow, or OCF?

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Wendy Marvel sold $260,000 of its inventory to Carla during 2021 for $400,000. Carla sold $300,000 of this merchandise in 2021 with the remainder to be disposed of during 2022. Assume Wendy Marvel owns 35% of Carla and has the ability to exert significant influence over Carla. What journal entry will be recorded at the end of 2021 to defer the recognition of the investor's share of the intra- entity gross profits? A) Equity in Carla B) C) D) Investment in Carla Investment in Carla Equity in Carla Equity in Carla Investment in Carla Investment in Carla Equity in Carla $35,000 $35,000 $12,250 $12,250 35,000 $35,000 $12,250 $12,250