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Question: The 2014 balance sheet of Jordan's Golf Shop, Inc., showed long-term debt of $2.9 million, and the 2015 balance sheet showed long-term debt...
Question:The 2014 balance sheet of Jordan's Golf Shop, Inc., showed long-term debt of $2.9 million, and the 2015 balance sheet showed long-term debt of $3.15 million. The 2015 income statement showed an interest expense of $145,000. The 2014 balance sheet showed $470,000 in the common stock account and $4.5 million in the additional paid-in surplus account. The 2015 balance sheet showed $510,000 and $4.8 million in the same two accounts, respectively. The company paid out $510,000 in cash dividends during 2015. Suppose you also know that the firm's net capital spending for 2015 was $1,330,000, and that the firm reduced its net working capital investment by $61,000.
What was the firm's 2015 operating cash flow, or OCF?
