During the year the Senbet Discount Tire Company had gross
During the year the Senbet Discount Tire Company had gross sales of $870 000. The firm's cost of goods sold and selling expenses were 5280.000 and S155 000 respectively. Senbet also had notes payable of $650.000. These notes carried an interest rate of 6 percent Depreciation was 586.000 Senbet's tax rate was 35 percent.
a. What was Senbet's net income?
b. What was Senbet's operating cashflow?
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