Zigs Industries had the following operating results for 2015: sales = $28312; cost of goods sold...
Zigs Industries had the following operating results for 2015: sales = $28312; cost of goods sold = $17572; depreciation expense = $4574; interest expense = $2352; dividends paid = $1752. At the beginning of the year, net fixed assets were $19629, current assets were $5237, and current liabilities were $3824. At the end of the year, net fixed assets were $20667, current assets were $7483, and current liabilities were $3572. The tax rate for 2015 was 35 percent. What is operating cash flow (OCF) for 2015?
Homework Answers
| Sales | $28312 |
| Cost of goods sold | $17572 |
| Depreciation | $4574 |
| EBIT | $6166 |
| Interest | $2352 |
| Taxable income | $3814 |
| Taxes(35%) | $1,335 |
| Net income | $2,479 |
OCF = EBIT + Depreciation - Taxes
OCF = $6166 + $4574 - $1335
OCF = $9405
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