Calculate the firms new long-term debt added during the year

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Reference no: EM131182586

During the year, Belyk Paving Co. had sales of $2,396,000. Cost of goods sold, administrative and selling expenses, and depreciation expense were $1,429,000, $435,400, and $490,400, respectively. In addition, the company had an interest expense of $215,400 and a tax rate of 35 percent (ignore any tax loss carryback or carryforward provisions.). Belyk Paving Co. paid out $404,000 in cash dividends. Assume that net capital spending was zero, no new investments were made in net working capital, and no new stock was issued during the year. (Enter your answer as directed, but do not round intermediate calculations.)

Required: Calculate the firm's new long-term debt added during the year.

Reference no: EM131182586

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Calculate the firms new long-term debt added during the year : During the year, Belyk Paving Co. had sales of $2,396,000. Cost of goods sold, administrative and selling expenses, and depreciation expense were $1,429,000, $435,400, and $490,400, respectively. In addition, the company had an interest expense of $2..

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