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19.Net Income and OCF.During the year,Belyk Paving Co.had sales of

By April 3, 2022No Comments

19.Net Income and OCF.During the year,Belyk Paving Co.had sales of$2,600,000.Cost of goods sold,administrative and selling expenses,and depreciationexpense were $1,535,000,$465,000,and $520,000,respectively.In addition,thecompany had an interest expense of $245,000 and a tax rate of 35 percent.(Ignoreany tax loss carryback or carryforward provisions.a.What is Belyk’s net income?b.What is its operating cash flow?c.Explain your results in (a)and (b).20.Accounting Values versus Cash Flows.In Problem 19,suppose Belyk PavingCo.paid out $420,000 in cash dividends.Is this possible?If net capital spending waszero,no new investments were made in net working capital,and no new stock wasissued during the year,what do you know about the firm’s long-term debt account?21.Calculating Cash Flows.Titan Football Manufacturing had the followingoperating results for 2014:sales $23,730;cost of goods sold $16,780;depreciation expense $2,840;interest expense $414;dividends paid $616.Atthe beginning of the year,net fixed assets were $16,560,current assets were $2,940,and current liabilities were $2,592.At the end of the year,net fixed assets were$18,840,current assets were $3,528,and current liabilities were $2,484.The tax ratefor 2014 was 35 percent.a.What is its net income for 2014?b.What is the operating cash flow for 2014?

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