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During the year, the Senbet Discount Tire Company had gross sales of $1.17 million. The company's cost of goods sold and selling expenses were $586,000


During the year, the Senbet Discount Tire Company had gross sales of $1.17 million. The company's cost of goods sold and selling expenses were $586,000 and $239,000, respectively. The company also had notes payable of $780,000. These notes carried an interest rate of 6 percent. Depreciation was $116,000. The tax rate was 21 percent.

a.

What was the company's net income? (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to the nearest whole number, e.g., 1,234,567.)

b.

What was the company's operating cash flow? (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to the nearest whole number, e.g., 1,234,567.)

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