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During 2018, Thorold Umbrella Corp. had sales of $850,000. Cost of goods sold, administrative and selling...

During 2018, Thorold Umbrella Corp. had sales of $850,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $610,000, $110,000, and $140,000, respectively. In addition, the company had an interest expense of $85,000 and a tax rate of 35%. (Ignore any tax loss carry-back or carry-forward provisions.)

Suppose Thorold Umbrella Corp. paid out $63,000 in cash dividends. Is this possible? 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? (Omit $ sign in your response.)

Net new long-term debt

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