Gerry Co. has a gross profit of $1,200,000 and depreciation expense of $400,000. Selling and administrative...

    

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Gerry Co. has a gross profit of $1,200,000 and depreciation expense of $400,000. Selling and administrative expense is $250,000. Given that the tax rate is 21 percent, compute the cash flow from operations for Gerry Co. Hint: depreciation is not an outflow of cash but is used to determine the tax obligation. Show all work (display all the variables used in your formulas, and/or detail all steps used in determining the calculation)! Gerry Co. has a gross profit of $1,200,000 and depreciation expense of $400,000. Selling and administrative expense is $250,000. Given that the tax rate is 21 percent, compute the cash flow from operations for Gerry Co. Hint: depreciation is not an outflow of cash but is used to determine the tax obligation. Show all work (display all the variables used in your formulas, and/or detail all steps used in determining the calculation)!