Question: Please show step by step solution 19. Net Income and OCF. During the year, Belyk Paving Co. had sales of $2,350,000. Cost of goods sold,

Please show step by step solution 19. Net Income and OCF.

Please show step by step solution

19. Net Income and OCF. During the year, Belyk Paving Co. had sales of $2,350,000. Cost of goods sold, administrative and selling expenses, and depreciation expense were $1,295,000, $530,000, and $420,000, respectively. In addition, the company had an interest expense of $245,000 and a tax rate of 35 percent. Ignore any tax loss carryback or carryforward provisions.) a. What is the company's net income? b. What is its operating cash flow? c. Explain your results in parts (a) and (b)

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