The December 31, 2001, balance sheet of Serenas Tennis Shop, Inc., showed long-term debt of $3.1 million,
Question:
The December 31, 2001, balance sheet of Serena’s Tennis Shop, Inc., showed long-term debt of $3.1 million, and the December 31, 2002, balance sheet showed long-term debt of $3.6 million. The 2002 income statement showed an interest expense of $400,000. What was the firm’s cash flow to creditors during 2002?
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To calculate the cash flow to creditors during 2002 we need to determine the net amount of longterm ...View the full answer
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Related Book For 
Fundamentals Of Corporate Finance
ISBN: 9780072553079
6th Edition
Authors: Stephen A. Ross, Randolph Westerfield, Bradford D. Jordan
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