Problem:
The December 31, 2013, balance sheet of Schism, Inc., showed long-term debt of $1,380,000, $136,000 in the common stock account and $2,610,000 in the additional paid-in surplus account. The December 31, 2014, balance sheet showed long-term debt of $1,540,000, $146,000 in the common stock account and $2,910,000 in the additional paid-in surplus account. The 2014 income statement showed an interest expense of $92,000 and the company paid out $141,000 in cash dividends during 2014. The firm's net capital spending for 2014 was $920,000, and the firm reduced its net working capital investment by $121,000.
Required:
Question: What was the firm's operating cash flow during 2014?
Note: Please provide equation and explain comprehensively and give step by step solution.