Precision Manufacturing Had the Following Operating Results for 2014: Sales

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