1) Lifeline, Inc., has sales of $590,000, costs of $268,000, depreciation expense of $68,500, interest expense of $35,500, and a tax rate of 40 percent. Required: What is the net income for this firm?

2) Hammett, Inc., has sales of $19,710, costs of $9,320, depreciation expense of $1,990, and interest expense of $1,480. Assume the tax rate is 30 percent. Required: What is the operating cash flow?

3) During the year, Belyk Paving Co. had sales of $2,387,000. Cost of goods sold, administrative and selling expenses, and depreciation expense were $1,438,000, $436,300, and $491,300, respectively. In addition, the company had an interest expense of $216,300 and a tax rate of 40 percent. (Ignore any tax loss carryback or carryforward provisions.) Required: (a) What is Belyk