Question: see photo for question. please round accordingly Problem 2-16 Net Income and OCF [LO2] During 2018, Raines Umbrella Corp. had sales of $742,000. Cost of

see photo for question. please round accordingly Problem 2-16 Net Income

see photo for question. please round accordingly

Problem 2-16 Net Income and OCF [LO2] During 2018, Raines Umbrella Corp. had sales of $742,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $455,000, $99,500, and $145,000, respectively. In addition, the company had an interest expense of $72,400 and a tax rate of 25 percent. (Ignore any tax loss carryforward provisions and assume interest expense is fully tax deductible.) a. What is the company's net income/loss for 2018? (Do not round intermediate calculations. Enter your answer as a positive value.) b. What is the company's operating cash flow? (Do not round intermediate calculations.) a. b. Operating cash flow

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