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American Inc. had gross sales of $925,000. Cost of goods sold and selling expenses were $490,00 and $220, 000 respectively American also had notes payable

  1. American Inc. had gross sales of $925,000. Cost of goods sold and selling expenses were $490,00 and $220, 000 respectively American also had notes payable with an interest of 4%. Depreciation was $120,000. The tax rate at the time was 35%.
  1. What is the companys net income? Show work.
  2. What is the companies operating cash flow? Show work

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