During 2015, Rainbow Umbrella Corp. had sales of $590,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $455,000, $85,000, and $125,000, respectively. In addition, the company had an interest expense of $65,000 and a tax rate of 35 percent. (Ignore any tax loss carry back or carry forward provisions.)

a. What is the company's net income for 2015?

b. What is its operating cash flow?

c. Explain your results in (a) and (b).