The 2011 balance sheet of Anna’s Tennis Shop, Inc., showed long-term debt of $5.0 million, and the 2012 balance sheet sh
Posted: Tue Jan 18, 2022 1:01 pm
The 2011 balance sheet of Anna’s Tennis Shop, Inc., showed
long-term debt of $5.0 million, and the 2012 balance sheet showed
long-term debt of $5.25 million. The 2012 income statement showed
an interest expense of $165,000. The 2011 balance sheet of Anna’s
Tennis Shop, Inc., showed $510,000 in the common stock account and
$4.6 million in the additional paid-in surplus account. The 2012
balance sheet showed $550,000 and $4.8 million in the same two
accounts, respectively. The company paid out $410,000 in cash
dividends during 2012. Suppose you also know that the firm’s
net capital spending for 2012 was $1,370,000, and that the firm
reduced its net working capital investment by $69,000.
long-term debt of $5.0 million, and the 2012 balance sheet showed
long-term debt of $5.25 million. The 2012 income statement showed
an interest expense of $165,000. The 2011 balance sheet of Anna’s
Tennis Shop, Inc., showed $510,000 in the common stock account and
$4.6 million in the additional paid-in surplus account. The 2012
balance sheet showed $550,000 and $4.8 million in the same two
accounts, respectively. The company paid out $410,000 in cash
dividends during 2012. Suppose you also know that the firm’s
net capital spending for 2012 was $1,370,000, and that the firm
reduced its net working capital investment by $69,000.