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Butterfly Tractors had $ 2 4 . 0 0 million in sales last year. Cost of goods sold was $ 1 0 . 0 0

Butterfly Tractors had $24.00 million in sales last year. Cost of goods sold was $10.00 million, depreciation expense was $4.00 million, interest payment on outstanding debt was $3.00 million, and the firm's tax rate was 21%.
a. What was the firm's net income?
Note: Enter your answer in millions rounded to 2 decimal places.
b. What was the firm's cash flow?
Note: Enter your answer in millions rounded to 2 decimal places.
c. What would happen to net income and cash flow if depreciation were increased by $3.00 million?
Note: Enter your numeric answers in millions rounded to 2 decimal places. Select "unaffected" if the results do not affect the balance.
d. Would you expect the change in depreciation to have a positive or negative impact on the firm's stock price?
e. What would be the impact on net income if depreciation was $3.00 million and interest expense was $4.00 million?
f. What would be the impact on cash flow if depreciation was $3.00 million and interest expense was $4.00 million?
bote: Enter your numeric answer in millions rounded to 2 decimal places. Select "unaffected" if the results do not affect the balance.
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