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Please show work. My answers are incorrect except the net loss. In 2014, Wire Corp. had sales of $860,000. Cost of goods sold, administrative and
Please show work. My answers are incorrect except the net loss.
In 2014, Wire Corp. had sales of $860,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $610,000, $110,000, and $125,000, respectively. In addition, the company had an interest expense of $87,000 and a tax rate of 35 percent. (Ignore any tax loss carryback or carryforward provisions.) a. What is Wire's net income for 2014? (Do not round intermediate calculations. Input the amount as a positive value.) Net loss $ 46800 b. What is the company's operating cash flow? (Do not round intermediate calculations.) $ Operating cash flow 177850Step by Step Solution
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