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During 2017, Modesto Rafters Inc. had sales of $2,000,000; cost of goods sold $1,000,000; administrative and selling expenses of $150,000; depreciation expenses of $75,000, and
During 2017, Modesto Rafters Inc. had sales of $2,000,000; cost of goods sold $1,000,000; administrative and selling expenses of $150,000; depreciation expenses of $75,000, and interest expense of $50,000. Its tax rate is 21 percent. a. What is MRIs net income for 2017? b. What is its operating cash flow?
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