Raines Umbrella Corp. had sales of $608,674. Cost of goods sold, administrative and selling expenses, and...

Raines Umbrella Corp. had sales of $608,674. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $547,602, $89,764, and $80,449, respectively. In addition, the company had an interest expense of $85,353 and a tax rate of 31 percent. (Ignore any tax loss carryback or carryforward provisions. This means that if the company does not have any taxable income, they do not pay any tax.) Suppose Raines Umbrella Corp. paid out $52,441 in cash dividends. If spending on net fixed assets and net working capital was zero, and if no new stock was issued during the year, what is the net new long-term debt?

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SEE THE IMAGE. ANY DOUBTS, FEEL FREE TO ASK. THUMBS UP PLEASE

jeff jeffy answered 1 year ago

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