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Net Income and OCT During 2015, rainbow umbrella corp. had sales of$590,000 cost of goods sold, administrative and selling expenses and depreciation expenses were $455,000,
Net Income and OCT 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% (ignore any tax loss carry back or carry forward provisions) A. What is the companys net income for 2015? B. What is its operating cash flow? C. Explain your result in (a) and (b)
Net Income and OCT
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% (ignore any tax loss carry back or carry forward provisions)
A. What is the companys net income for 2015?
B. What is its operating cash flow?
C. Explain your result in (a) and (b)
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Implementing And Auditing The Internal Control System
Authors: D. Chorafas
2001edition
0333929365, 978-0333929360
