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Business, 06.06.2020 16:57 23lopezjimenezl

During 2019, Toots Umbrella Corp. had sales of $675,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $435,000, $85,000, and $125,000, respectively. In addition, the company had an interest expense of $70,000 and a tax rate of 35 percent. (Ignore any tax loss carryback or carryforward provisions.) Suppose the company paid out $68,000 in cash dividends If spending on net fixed assets and net working capital was zero, and if no new stock was Issued during the year. What is the net new long-term debt? (Do not round intermediate calculations.)

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During 2019, Toots Umbrella Corp. had sales of $675,000. Cost of goods sold, administrative and sell...

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