In the past year, Stango Styles had gross sales of $500,000. The firms cost of goods sold and selling expenses were $250,000 and $100,000, respectively. Stango also had notes payable of $400,000, which carried an interest rate of 3%. Depreciation was $75,000. Stangos tax rate was 35%.

A. Create an income statement for Stango Styles.

B. What was Stango Styles operating cash flow?