Question
During the year, Belyk Paving Co. had sales of $2,393,000. Cost of goods sold, administrative and selling expenses, and depreciation expense were $1,432,000, $435,700, and
During the year, Belyk Paving Co. had sales of $2,393,000. Cost of goods sold, administrative and selling expenses, and depreciation expense were $1,432,000, $435,700, and $490,700, respectively. In addition, the company had an interest expense of $215,700 and a tax rate of 35 percent. (Ignore any tax loss carryback or carryforward provisions.)
a. What is the companys net income? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
Net income $
b. What is it's operating cash flow? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
Operating cash flow $
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