Problem 2.18 – Belyk Paving Co. Long-term Debt

Essentials of Corporate Finance

Ross, Westerfield, and Jordan

11th Edition

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During the year, Belyk Paving Co. had sales and incurred costs, administrative and selling expenses, depreciation, interest, and taxes. The company paid out cash dividends and assumed no change in net capital spending, net working capital, or new stock issuance. Calculate the firm's net new long-term debt added during the year.

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