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PLEASE HELP WITH MY FINANCE HW!! During 2019, Rainbow Umbrella Corp. had sales of $700,000. Cost of goods sold, administrative and selling expenses, and depreciation
PLEASE HELP WITH MY FINANCE HW!!
During 2019, Rainbow Umbrella Corp. had sales of $700,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $500,000, $110,000, and $75,000, respectively. In addition, the company had an interest expense of $86,000 and a tax rate of 21 percent. (Assume that interest is fully deductible.) a. What is the company's net income for 2019? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations.) b. What is its operating cash flow? (Do not round intermediate calculations.) a. Net income b. Operating cash flowStep by Step Solution
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