Problem 3-14 Income versus Cash Flow (LO3) Butterfly Tractors had $16.00 million in sales last year. Cost of goods sold was $8.40 million, depreciation expense was $2.40 million, interest payment on outstanding debt was $1.40 million, and the firm's tax rate was 21%. a. What was the firm's net income? (Enter your answers in millions rounded to 2 decimal places.) b. What was the firm's cash flow? (Enter your answers in millions rounded to 2 decimal places.) c. What would happen to net income and cash flow if depreciation were increased by $1.40 million? (Enter your numeric answers in millions rounded to 2 decimal places. Select "unaffected" if the results do not affect the balance.) f. What would be the impact on cash flow if depreciation was $1.40 million and interest expense was $2.40 million? (Enter your numeric answer in millions rounded to 2 decimal places. Select "unaffected" if the results do not affect the balance.) X Answer is complete but not entirely correct. a. Net income $ 2.47 x million b. Net cash flow $ 5.40 million c. Net income would be decreased by $ 0.91 million Cash flow would be increased by $ 0.49 X million f. Cash flow would be decreased by $ 1.00 million