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During 2014 Raines Umbrella Corp had sales of $790000 Cost of goods sold administrative and selling expenses and depreciation expenses were

During 2014, Raines Umbrella Corp. had sales of $790,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $610,000, $85,000, and $190,000, respectively. In addition, the company had an interest expense of $52,000 and a tax rate of 35 percent. (Ignore any tax loss carryback or carryforward provisions.) a. What is Raines’s net income for 2014? (Do not round intermediate calculations. Input the amount as a positive value.) $ b. What is the company's operating cash flow? (Do not round intermediate calculations.) Operating cash flow $

 

Apr 29 2020 View more View Less

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