Question
During the year, the Senbet Discount Tire Company had gross sales of $1.11 million. The firm's cost of goods sold and selling expenses were $530,000
During the year, the Senbet Discount Tire Company had gross sales of $1.11 million. The firm's cost of goods sold and selling expenses were $530,000 and $220,000, respectively. The firm also had notes payable of $850,000. These notes carried an interest rate of 5 percent. Depreciation was $135,000. The firm's tax rate was 40 percent.
What was the firms net income?
What was the firms operatingcash flow?
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Corporate Finance Core Principles and Applications
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe, Bradford
3rd edition
978-0077971304, 77971302, 978-0073530680, 73530689, 978-0071221160, 71221166, 978-0077905200
