11) Cusic Industries had the following operating results for 2019: sales = $33,510; cost of goods...

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11) Cusic Industries had the following operating results for2019: sales = $33,510; cost of goods sold = $23,820; depreciationexpense = $5,917; interest expense = $2,670; dividends paid =$1,924. At the beginning of the year, net fixed assets were$19,860, current assets were $6,998, and current liabilities were$3,944. At the end of the year, net fixed assets were $24,430,current assets were $8,636, and current liabilities were $4,601.The tax rate was 24 percent.
a. What is net income for 2019? (Do not round intermediatecalculations.)
b. What is the operating cash flow for 2019? (Do not roundintermediate calculations.)
c. What is the cash flow from assets for 2019? (A negativeanswer should be indicated by a minus sign. Do not roundintermediate calculations.)
d-1. If no new debt was issued during the year, what is the cashflow to creditors? (Do not round intermediate calculations.)
d-2. If no new debt was issued during the year, what is the cashflow to stockholders? (A negative answer should be indicated by aminus sign. Do not round intermediate calculations.)

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3.9 Ratings (667 Votes)

Income Statement Particular Amount Sales 33510 Cost of Good Sold 23820 Operating Profit 9690 Depreciation Exp 5917 EBIT 3773 Interest Expenses 2670 EBT 1103 Tax 24 26472 See Answer

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11) Cusic Industries had the following operating results for2019: sales = $33,510; cost of goods sold = $23,820; depreciationexpense = $5,917; interest expense = $2,670; dividends paid =$1,924. At the beginning of the year, net fixed assets were$19,860, current assets were $6,998, and current liabilities were$3,944. At the end of the year, net fixed assets were $24,430,current assets were $8,636, and current liabilities were $4,601.The tax rate was 24 percent.a. What is net income for 2019? (Do not round intermediatecalculations.)b. What is the operating cash flow for 2019? (Do not roundintermediate calculations.)c. What is the cash flow from assets for 2019? (A negativeanswer should be indicated by a minus sign. Do not roundintermediate calculations.)d-1. If no new debt was issued during the year, what is the cashflow to creditors? (Do not round intermediate calculations.)d-2. If no new debt was issued during the year, what is the cashflow to stockholders? (A negative answer should be indicated by aminus sign. Do not round intermediate calculations.)