Precision Manufacturing Had the Following Operating Results for 2014: Sales

question 20

Multiple Choice

Precision Manufacturing had the following operating results for 2014: sales = $38,900; cost of goods sold = $24,600; depreciation expense = $1,700; interest expense = $1,400; dividends paid = $1,000.At the beginning of the year,net fixed assets were $14,300,current assets were $8,700,and current liabilities were $6,600.At the end of the year,net fixed assets were $13,900,current assets were $9,200,and current liabilities were $7,400.The tax rate for 2014 was 34 percent.What is the cash flow from assets for 2014?

• A)$8,047
• B)$8,292
• C)$8,658
• D)$9,492
• E)$9,964

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