The December 31, 2015, balance sheet of Schism, Inc., showed long-term debt of $1,405,000, and the December 31, 2016, balance sheet showed long-term debt of $1,590,000. The 2016 income statement showed an interest expense of $94,500. What was the firm's cash flow to creditors during 2016?

($90,500)

Explanation:

The Cashflow to Creditors helps a company identify just how much cash was paid to creditors in a period.

The formula is,

Cash flow to creditors = Interest paid – (long term debt at the end – long term date at the beginning)

The ending balance in 2015 which will be the opening balance in 2016 is $1,405,000.

The Ending balance in 2016 is $1,590,000.

The Cash Flow to Creditors is therefore,

Cash flow to creditors during 2016 = 94,500 - ( 1,590,000 - 1,405,000)

= - $90,500

a a car

~courtney

brainliest?

d, conspicuous consumption is when you try to increase your wealth or social status (and in the case he's trying to create the perception of wealth considering he can't really afford it)