During the year, the Senbet Discount Tire Company had grosssales of $1.22 million. The company's cost of
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During the year, the Senbet Discount Tire Company had grosssales of $1.22 million. The company\'s cost of goods sold andselling expenses were $541,000 and $231,000, respectively. Thecompany also had debt of $960,000, which carried an interest rateof 6 percent. Depreciation was $146,000. The tax rate was 40percent. What was the company\'s net income? (Do not roundintermediate calculations. Enter your answer in dollars, notmillions of dollars, e.g., 1,234,567. Round your answer to thenearest whole number, e.g., 32.) Net income $ b. What was thecompany’s operating cash flow?
Related Book For
Corporate Finance Core Principles and Applications
ISBN: 978-0077905200
3rd edition
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe, Bradford
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