Question: Quarles Industries had the following operating results for 2015: sales = $29,220; cost of goods sold = $19,560; depreciation expense = $5,100; interest expense = $2,490; dividends paid = $1,250. At the beginning of the year, net fixed assets were $16,880, current assets were $5,820, and current liabilities were $3,360. At the end of the year, net fixed assets were $20,460, current assets were $7,360, and current liabilities were $3,940. The tax rate for 2015 was 30 percent.
a. What is net income for 2015? (Do not round intermediate calculations.) Net income= $
b. What is the operating cash flow for 2015? (Do not round intermediate calculations.) Operating cash flow= $
c. What is the cash flow from assets for 2015? (Do not round intermediate calculations. Negative amount should be indicated by a minus sign.) Cash flow from assets= $
d-1 If no new debt was issued during the year, what is the cash flow to creditors? (Do not round intermediate calculations.) Cash flow to creditors= $
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= $