Required:

Assuming the decrease in accrued expenses during fiscal year 2015 included a $18,500 reduction due to taxes, compute the income tax expense for Kinney in that year.

Required:

Assuming the decrease in accrued expenses during fiscal year 2015 included a $14,300 reduction due to interest on debt, compute the interest expense (net) for Kinney in that year.

For the years enaed December 3 2015 2014 Cash flow from operating activities: 197,582,040 211,473,952 Cash received from customers Cash paid to suppliers and employees (190,976,791 (200174,336) (1,413,990) (1,948,523) Interest paid, net Income taxes paid (436,650 (572,250) Cash provided by operations 4,754,609 8,778,843 Cash flow from investing activities: (2,853,579) Capital expenditures and acquisitions (46,560) Expenditures for other assets (140,420) (2,900,39) (1,657,802) Cash used in investing activities Cash flow from financing activities: (6,640175) Principal payments of long-term debt and lease agreements (2,212,485) Addition to long-term debt and lease liability 5,967,348 1,464,847 Changes in restricted unexpended IRB cash (2,898,970) (1,635,906) Purchase of common stock and other capital transactions 923,231) (1,036,968) Payment of dividends (885,558 Cash provided by (used in) financing activities (1,665,571 7.135,527) Net increase (decrease) in cash 188,899 4,486) Cash at beginning of year 192,615 207101 Cash at end of year 381,514 192,615 2015 2014 Reconciliation of net income to net cash provided by operations 1,772133 2,461,497 Net income 3,535,504 Depreciation and amortization 3,555,087 208.000 347766 Deferred income taxes Changes in assets and liabilities, net of acquisitions: Decrease (increase) in receivables (2,927,353) 4150,668 Decrease (increase) in inventories (358,508) 6,044,490 364,648 Increase (decrease) in prepaid expenses (95,850) Increase (decrease) in controlled disbursements 376,394 86,718 Increase (decrease) in accounts payable 1,798,676 (8194148) Increase (decrease) in accrued expenses 14,885) 420,616 Other, net 1,999 4,754,609 8,778,843 Cash provided by operations