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Last year Z&B Paints reported its net income as $650,000. A review of its in- come statement shows that Z&Bs operating expenses (fixed and variable),

Last year Z&B Paints reported its net income as $650,000. A review of its in- come statement shows that Z&Bs operating expenses (fixed and variable), excluding depreciation and amortization, were $1,500,000, its depreciation and amortization expense was $300,000, and its companys tax rate was 35 percent. Z&B has no debtthat is, the firm is financed with stock only.
a. What were Z&Bs sales revenues last year?
b. What was Z&Bs net cash flow last year?

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