2. Tullot Industries began operations on January 1, 20X9. On that date, the owners invested $140,000 in the company, and acquired a $90,000 machine. The machine has a useful life of 5 years, and a residual value of $4,000. The company intends to depreciate the machine on a straight-line basis for financial reporting purposes. During 20X9, revenues, which were all in cash, totaled $630,000. All operating expenses, other than depreciation and all paid in cash, were $510,000. Tullot Industries has a 45% income tax rate. Given the above information, determine the following (round all answers to the nearest dollar): a. 20X9 Net income using straight-line depreciation b. 20X9 Net cash provided by operations using straight-line depreciation