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Home / Questions / During the year, the Senbet Discount Tire Company had grosss ales of $1.12 million. The fi...

During the year, the Senbet Discount Tire Company had grosss ales of $1.12 million. The firm cost of goods sold and selling expenses were $531,000 and $221,000, respectively. Senbet also had notes

During the year, the Senbet Discount Tire Company had grosssales of $1.12 million. The firm’s cost of goods sold and sellingexpenses were $531,000 and $221,000, respectively. Senbet also hadnotes payable of $860,000. These notes carried an interest rate of6 percent. Depreciation was $136,000. Senbet’s tax rate was 40percent.

a. What was Senbet’s net income? (Do not round intermediatecalculations. Enter your answer in dollars, not millions of dollars(e.g., 1,234,567). Round your answer to the nearest whole dollaramount (e.g., 32).) Net income $

b. What was Senbet’s operating cash flow? (Do not roundintermediate calculations. Enter your answer in dollars, notmillions of dollars (e.g., 1,234,567). Round your answer to thenearest whole dollar amount (e.g., 32).) Operating cash flow $

Aug 16 2021 View more View Less

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