The 2011 balance sheet of Anna’s Tennis Shop, Inc., showed long-term debt of $6.4 million, and the 2012 balance sheet sh
Posted: Tue Jan 18, 2022 1:00 pm
The 2011 balance sheet of Anna’s Tennis Shop, Inc., showed
long-term debt of $6.4 million, and the 2012 balance sheet showed
long-term debt of $6.65 million. The 2012 income statement showed
an interest expense of $225,000. The 2011 balance sheet of Anna’s
Tennis Shop, Inc., showed $630,000 in the common stock account and
$4.9 million in the additional paid-in surplus account. The 2012
balance sheet showed $670,000 and $5.4 million in the same two
accounts, respectively. The company paid out $620,000 in cash
dividends during 2012. Suppose you also know that the firm’s
net capital spending for 2012 was $1,490,000, and that the firm
reduced its net working capital investment by $93,000.
long-term debt of $6.4 million, and the 2012 balance sheet showed
long-term debt of $6.65 million. The 2012 income statement showed
an interest expense of $225,000. The 2011 balance sheet of Anna’s
Tennis Shop, Inc., showed $630,000 in the common stock account and
$4.9 million in the additional paid-in surplus account. The 2012
balance sheet showed $670,000 and $5.4 million in the same two
accounts, respectively. The company paid out $620,000 in cash
dividends during 2012. Suppose you also know that the firm’s
net capital spending for 2012 was $1,490,000, and that the firm
reduced its net working capital investment by $93,000.