Question: Madison Corp. reported the following in the Current Assets section of its comparative balance sheets: Supplemental information at the bottom of Madisons 2014 statement of

Madison Corp. reported the following in the Current Assets section of its comparative balance sheets:December 31, 2014 December 31, 2013 Current Liabilities: Current portion of notes payable $400,000 $600,000

Supplemental information at the bottom of Madison€™s 2014 statement of cash flows was as follows:

2013 2014 Interest paid $135,000 $155,000 Income taxes paid 550,000 425,000

Madison€™s 2014 debt service coverage ratio was 20 to 1. Determine Madison€™s cash flow from operations for 2014.

December 31, 2014 December 31, 2013 Current Liabilities: Current portion of notes payable $400,000 $600,000 2013 2014 Interest paid $135,000 $155,000 Income taxes paid 550,000 425,000

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