Question: Quarles Industries had the following operating results for 2015: sales = $30,540; cost of goods sold = $19,910; depreciation expense = $5,380; interest expense = $2,790; dividends paid = $1,600. At the beginning of the year, net fixed assets were $17,360, current assets were $5,890, and current liabilities were $3,400. At the end of the year, net fixed assets were $20,810, current assets were $7,750, and current liabilities were $4,010. The tax rate for 2015 was 35 percent.
a. What is net income for 2015? (Do not round intermediate calculations.)
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 amount should be indicated by a minus sign.)
d-1 If no new debt was issued during the year, what is the cash flow to creditors? (Do not round intermediate calculations.)
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.)