Net Income/Operating Cash Flow, assignment help
During the year, the Senbet Discount Tire Company had gross sales of $1.08 million. The firm’s cost of goods sold and selling expenses were $527,000 and $217,000, respectively. Senbet also had notes payable of $820,000. These notes carried an interest rate of 5 percent. Depreciation was $132,000. Senbet’s tax rate was 40 percent. a. What was […]