In: Finance
The 2018 balance sheet of Speith’s Golf Shop, Inc., showed long-term debt of $5.6 million, and the 2019 balance sheet showed long-term debt of $5.85 million. The 2019 income statement showed an interest expense of $185,000. The 2018 balance sheet showed $550,000 in the common stock account and $4.7 million in the additional paid-in surplus account. The 2019 balance sheet showed $590,000 and $5.1 million in the same two accounts, respectively. The company paid out $555,000 in cash dividends during 2019. Suppose you also know that the firm’s net capital spending for 2019 was $1,410,000, and that the firm reduced its net working capital investment by $77,000. |
What was the firm’s 2019 operating cash flow, or OCF? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567.) |