1 (Chapter 2). During 2019, Merced Rafters Inc. had sales of $2,000,000; cost of goods sold $1,000,000; administrative and selling expenses of $150,000; depreciation expenses of $75,000, and interest expense of $50,000. Its tax rate is 21 percent. a. What is MRI's net income for 2019? b. What is its operating cash flow