Zigs Industries had the following operating results for 2015: sales = $27771; cost of goods sold...
Zigs Industries had the following operating results for 2015: sales = $27771; cost of goods sold = $16963; depreciation expense = $4324; interest expense = $2068; dividends paid = $1788. At the beginning of the year, net fixed assets were $15810, current assets were $5248, and current liabilities were $3969. At the end of the year, net fixed assets were $20724, current assets were $7634, and current liabilities were $3580. The tax rate for 2015 was 34 percent. What is operating cash flow (OCF) for 2015?
Homework Answers
| Statement of Cash Flows - Indirect Method | ||
| Amount in $ | Amount in $ | |
| Net income | $ 2,915 | |
| Cash flows from operating activities | ||
| Adjustments for: | ||
| Depreciation | $ 4,324 | |
| Changes in Current Assets | ||
| Increased in Current Assets ( $ 5248 - $ 7,634) | $ -2,386 | |
| Changes in Current Liabilities | ||
| Decreased in Current Liabilities ( $ 3580 - $ 3,969) | $ -389 | |
| $ 1,549 | ||
| Net cash from operating activities | $ 4,464 |
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