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The December 31 2015 balance sheet of Schism Inc showed long-term debt of $1460000 $152000 in the common stock account and $2770000 in the additional paid in surplus account The December

The December 31, 2015, balance sheet of Schism, Inc., showed long-term debt of $1,460,000, $152,000 in the common stock account, and $2,770,000 in the additional paid-in surplus account. The December 31, 2016, balance sheet showed long-term debt of $1,700,000, $162,000 in the common stock account, and $3,070,000 in the additional paid-in surplus account. The 2016 income statement showed an interest expense of $100,000 and the company paid out $157,000 in cash dividends during 2016. The firm’s net capital spending for 2016 was $1,080,000, and the firm reduced its net working capital investment by $137,000. What was the firm’s cash flow from assets in 2016?

 

May 21 2020 View more View Less

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