During the year, the Senbet Discount Tire Company had gross sales of $1.20 million. The firms cost of goods sold and selling expenses were $539,000 and $229,000, respectively. Senbet also had notes payable of $940,000. These notes carried an interest rate of 7 percent. Depreciation was $144,000. Senbets tax rate was 40 percent.

a. What was Senbets net income? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, i.e. 1,234,567. Round your answer to the nearest whole dollar amount. (e.g., 32)) Net income $ _?

b. What was Senbets operating cash flow? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, i.e. 1,234,567. Round your answer to the nearest whole dollar amount. (e.g., 32)) Operating cash flow $ __?

Question

During the year, the Senbet Discount Tire Company had gross sales of $1.20 million. The firms cost of goods sold and selling expenses were $539,000 and $229,000, respectively. Senbet also had notes payable of $940,000. These notes carried an interest rate of 7 percent. Depreciation was $144,000. Senbets tax rate was 40 percent.

a. What was Senbets net income? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, i.e. 1,234,567. Round your answer to the nearest whole dollar amount. (e.g., 32)) Net income $ _________?

b. What was Senbets operating cash flow? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, i.e. 1,234,567. Round your answer to the nearest whole dollar amount. (e.g., 32)) Operating cash flow $ __________?

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Question

During the year, the Senbet Discount Tire Company had gross sales of $1.20 million. The firms cost of goods sold and selling expenses were $539,000

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