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During the year, the Senbet Discount Tire Company had gross sales of $1.18 million. The company's cost of goods sold and selling expenses were $537,000
During the year, the Senbet Discount Tire Company had gross sales of $1.18 million. The company's cost of goods sold and selling expenses were $537,000 and $227,000, respectively. The company also had debt of $920,000, which carried an interest rate of 5 percent. Depreciation was $142,000. The tax rate was 35 percent.
a.) What was the company's net income?
b.) What was the company's operating cash flow?
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