A company's 2022 income statement showed depreciation expense of $900,000 and interest expense of $500,000. The addition
Fantastic news! We've Found the answer you've been seeking!
Question:
A company's 2022 income statement showed depreciation expense of $900,000 and interest expense of $500,000. The addition to retained earnings for the year was $700,000 and dividends paid during the year were $800,000. At the start of the year, the company's long-term debt was $7,200,000 and owner's equity was $29,700,000. At the end of the year, the company's long-term debt was $6,700,000 and owner's equity was $28,800,000. What is the company's cash flow to creditors for 2022?
Related Book For
Foundations Of Finance
ISBN: 9780135160619
10th Edition
Authors: Arthur J. Keown, John H. Martin, J. William Petty
Posted Date: