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During the year, the Senbet Discount Tire Company had gross sales of $1.24million. The firms cost of goods sold and selling expenses were $543,000 and
During the year, the Senbet Discount Tire Company had gross sales of $1.24million. The firms cost of goods sold and selling expenses were $543,000 and $233,000, respectively. The firm also had notes payable of $980,000. These notes carried an interest rate of 8 percent. Depreciation was $148,000. The firms tax rate was 40 percent.
A. What was the firms net income? round to the nearest whole number
B. What was the firms operating cash flow?
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