Question: Can I get B solved. I got it wrong. I will rate 5 stars. During the year, the Senbet Discount Tire Company had gross sales
During the year, the Senbet Discount Tire Company had gross sales of $1.25 million. The firm's cost of goods sold and selling expenses were $544,000 and $234,000, respectively. The firm also had notes payable of $990,000. These notes carried an interest rate of 6 percent. Depreciation was $149,000. The firm's tax rate was 30 percent. a. What was the firm's net income? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Round your answer to the nearest whole number, e.g., 32.) Net income 184520 b. What was the firm's operating cash flow? (Do not round Intermediate calculations. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Round your answer to the nearest whole number, e.g., 32.) Operating cash flow $ 333520 References eBook & Resources Worksheet Section: 2.2 The Income Statement Difficulty: 2 Intermediate Section: 2.5 Cash Flow of the Firm Check my work iTunes
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