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13. Building an Income Statement had gross sales of $925,000. The firm's cost of goods sold and selling expenses were $490,000 and $220,000, respectively. Senbet

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13. Building an Income Statement had gross sales of $925,000. The firm's cost of goods sold and selling expenses were $490,000 and $220,000, respectively. Senbet also had notes payable of $740,000. These notes carried an interest rate of 4 percent. Depreciation was $120,000. Senbet's tax rate was 35 percent. a. What was Senbet's net income? b. What was Senbet's operating cash flow During the year, the Senbet Discount Tire Company

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