The December 31, 2013, balance sheet of Schism, Inc., showed long-term debt of $1,435,000, $147,000 in the common stock account and $2,720,000 in the additional paid-in surplus account. The December 31, 2014, balance sheet showed long-term debt of $1,650,000, $157,000 in the common stock account and $3,020,000 in the additional paid-in surplus account. The 2014 income statement showed an interest expense of $97,500 and the company paid out $152,000 in cash dividends during 2014. The firm’s net capital spending for 2014 was $1,030,000, and the firm reduced its net working capital investment by $132,000. (Enter your answer as directed, but do not round intermediate calculations.)
Required:
What was the firm’s operating cash flow during 2014? (Enter your answer in dollars, not millions of dollars (e.g., 1,234,567).)
