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Home / Questions / During the year the Senbet Discount Tire Company had gross sales of $117 million The firmâ...

During the year the Senbet Discount Tire Company had gross sales of $117 million The firmâ€s cost of goods sold and selling expenses were $536000 and $226000 respectively The firm also had not

During the year, the Senbet Discount Tire Company had gross sales of $1.17 million. The firm’s cost of goods sold and selling expenses were $536,000 and $226,000, respectively. The firm also had notes payable of $910,000. These notes carried an interest rate of 6 percent. Depreciation was $141,000. The firm’s tax rate was 40 percent.a.What was the firm’s net income? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Round your answer to the nearest whole number, e.g., 32.) Net income$ b.What was the firm’s operating cash flow? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Round your answer to the nearest whole number, e.g., 32.) Operating cash flow$

 

May 22 2020 View more View Less

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