iauies aun Net Income and OCF During 2015, Rainbow Umbrella Corp. had sales of $590,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $455,000, $85,000, and $125,000, respectively. In addition, the company had an interest expense of $65,000 and a tax rate of 35 percent. (Ignore any tax loss carryback carryforward provisions.) a. What is the company's net income for 2015? b. What is its operating cash flow? Explain your results in (a) and (b). 18. or c. Accounting Values versus Cash Flows Corp. paid out $34,000 in cash dividends. Is this possible? If spending and net working capital was zero, and if no new stock was issued during the year, what was the change in the firm's long-term debt account? 19. In Problem 18, suppose Rainbow Umbrella on net fixed assets