During 2015, Rainbow Umbrella Corp. had sales of $770,000. Cost of goods sold, administrative and selling expenses,
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| During 2015, Rainbow Umbrella Corp. had sales of $770,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $610,000, $125,000, and $180,000, respectively. In addition, the company had an interest expense of $56,000 and a tax rate of 35 percent. (Ignore any tax loss carryback or carryforward provisions.) |
| a. | What is the company's net income for 2015? (Do not round intermediate calculations. A negative answer should be indicated by a minus sign.) |
| Net income | $ |
| b. | What is its operating cash flow? (Do not round intermediate calculations.) |
| Operating cash flow | $ |
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