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The 2014 balance sheet of Jordan’s Golf Shop, Inc., showed long-term debt of $6 million, and...
The 2014 balance sheet of Jordan’s Golf Shop, Inc., showed long-term debt of $6 million, and the 2015 balance sheet showed long-term debt of $6.25 million. The 2015 income statement showed an interest expense of $205,000. The 2014 balance sheet showed $590,000 in the common stock account and $4.8 million in the additional paid-in surplus account. The 2015 balance sheet showed $630,000 and $5.3 million in the same two accounts, respectively. The company paid out $600,000 in cash dividends during 2015. Suppose you also know that the firm’s net capital spending for 2015 was $1,450,000, and that the firm reduced its net working capital investment by $85,000.
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jeff jeffy answered 6 months agoRelated Solutions
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