Scantron Test Sheet 95946 21. During the year, Kumho Tire Compasy had gross sale of s1,200,000. The costs of goods sold and selling expenses were 5500,000 and $200,000, respectively. Kumho alos had notes payable of $70.000 with an annual increst of 5% Depreciation was $120,000. The firm's tax rate is 30%, what is the net income for the company? A. $221.456 B. $241,500 C $200,000 D. $280,000 E $186,000 22. During the year, Kumho Tire Company had gross sale of S1,200,000. The costs of goods sold and selling expenses were $500,000 and $200,000, respectively. Kumho also had notes payable of $700,000 with an annual interest of 5% Depreciation was $120,000. The firm's tax rate is 30%. what is the cash flows from operating activities? A. $396,500 B. $421,000 C. $412,000 D. $344,200 E. $289,960 Total asset of a company is $60,000, Sales are $90,000, Net income is $4,800. multiplier of the company is 1.25. What is the return on equity for this company? A. 10% B. 12% C. 13% D. 14% 23. Equity E. 15%