Problem 2-16 Net Income and OCF (LO2) During 2018, Raines Umbrella Corp. had sales of $754,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $459,000, $101,500, and $147,000, respectively. In addition, the company had an interest expense of $73,200 and a tax rate of 24 percent. (Ignore any tax loss carryforward provisions and assume interest expense is fully tax deductible.) a. What is the company's net income/loss for 2018? (Do not round intermediate calculations. Enter your answer as a positive value.) b. What is the company's operating cash flow? (Do not round intermediate calculations.) a. b. Operating cash flow Problem 2-16 Net Income and OCF (LO2) During 2018, Raines Umbrella Corp. had sales of $754,000. C administrative and selling expenses, and depreciation expense: $101,500, and $147,000, respectively. In addition, the company had a of $73,200 and a tax rate of 24 percent. (Ignore any tax loss carryforw assume interest expense is fully tax deductible.) a. What is the company's net income/loss for 2018? (Do not round inte calculations. Enter your answer as a positive value.) b. What is the company's operating cash flow? (Do not round intermed calculations.) a. b. Net income Net loss