During the year Senbet Discount Tire Company achieved gross sales of $1.07 million. The company's cost of goods sold and selling expenses were $576,000 and $229,000, respectively. The company also had bills payable for $680,000. These securities carried an interest rate of 4 percent. The depreciation was $106,000. The tax rate was 21 percent. 

A. What was the company's net income? (Do not round up intermediate calculations. Enter your answer rounded to the nearest whole dollar amount, not in millions of dollars, for example 1,234,567.) 

b. What was the company's operating cash flow? (Do not round up intermediate calculations. Enter your answer rounded to the nearest whole dollar amount, not in millions of dollars, for example 1,234,567.)

Answer rating: 100% (QA)

a Sales Cost of goods sold Selling costs Deprec... View the full answer