QUESTION 8 During 2011, Ping, Inc. reported Sales of $1,500,000. Cost of goods sold, selling expenses, and depreciation were $600,000, $150,000, and $200,000, respectively. Ping has no debt and their tax rate is assumed to be 35%. Calculate Ping's operating cash flow for 2011 $550,000 $750,000 $357,500 $557,500