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Input area: Sales Cost of goods sold Selling expenses Debt Interest rate Depreciation expense Tax rate Output area: Income Statement Sales $ - Cost of
Input area: | ||||
Sales | ||||
Cost of goods sold | ||||
Selling expenses | ||||
Debt | ||||
Interest rate | ||||
Depreciation expense | ||||
Tax rate | ||||
Output area: | ||||
Income Statement | ||||
Sales | $ - | |||
Cost of goods sold | - | |||
Selling expenses | - | |||
Depreciation expense | - | |||
EBIT | $ - | |||
Interest expense | - | |||
EBT | $ - | |||
Taxes (0%) | - | |||
Net income | $ - | |||
EBIT | $ - | |||
Depreciation | - | |||
Taxes | - | |||
Operating cash flow | $ - | |||
During the year, the Senbet Discount Tire Company had gross sales of $489,300. The companys cost of goods sold and selling expenses were $157,300 and $84,200, respectively. The company also had a debt of $490,000 which carried an interest rate of 6 percent. Depreciation was $58,300. The tax rate was 24 percent. a. What was Senbets net income? b. What was Senbets operating cash flow?
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