The 2020 balance sheet of Osaka's Tennis Shop, Inc., showed long-term debt of $2.25 million, and...

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The 2020 balance sheet of Osaka's Tennis Shop, Inc., showed long-term debt of $2.25 million, and the 2021 balance sheet showed long-term debt of $2.66 million. The 2021 income statement showed an interest expense of $305,000. The balance sheet also showed $780,000 in the common stock account and $4.78 million in the additional paid-in surplus account. The 2021 balance sheet showed $965,000 and $5.04 million in the same two accounts, respectively. The company paid out $654,000 in cash dividends during 2021. You also know that the firm's net capital spending for 2021 was $1.5 million and that the firm reduced its net working capital investment by $55,000. What was the firm's 2021 operating cash flow, or OCF? Input area: Dec. 31, 2020 Long-term debt Dec. 31, 2021 Long-term debt Interest expense Dec. 31, 2020 Common stock Dec. 31, 2020 Additional paid-in surplus Dec 31, 2021 Common stock Dec. 31, 2021 Additional paid-in surplus Cash dividends 2021 Net capital spending Change in net working capital $2,250,000 $2,660,000 $305,000 $780,000 $4,780,000 $965,000 $5,040,000 $654,000 $1,500,000 ($55,000) The 2020 balance sheet of Osaka's Tennis Shop, Inc., showed long-term debt of $2.25 million, and the 2021 balance sheet showed long-term debt of $2.66 million. The 2021 income statement showed an interest expense of $305,000. The balance sheet also showed $780,000 in the common stock account and $4.78 million in the additional paid-in surplus account. The 2021 balance sheet showed $965,000 and $5.04 million in the same two accounts, respectively. The company paid out $654,000 in cash dividends during 2021. You also know that the firm's net capital spending for 2021 was $1.5 million and that the firm reduced its net working capital investment by $55,000. What was the firm's 2021 operating cash flow, or OCF? Input area: Dec. 31, 2020 Long-term debt Dec. 31, 2021 Long-term debt Interest expense Dec. 31, 2020 Common stock Dec. 31, 2020 Additional paid-in surplus Dec 31, 2021 Common stock Dec. 31, 2021 Additional paid-in surplus Cash dividends 2021 Net capital spending Change in net working capital $2,250,000 $2,660,000 $305,000 $780,000 $4,780,000 $965,000 $5,040,000 $654,000 $1,500,000 ($55,000)

Answer rating: 100% (QA)

OCF EBIT Depreciation Taxes Where EBIT is Earnings Before Interest and Taxes Depreciation is the depreciation expense Taxes are the taxes paid Interes... View the full answer