Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN: 9781285595047
Author: Weil
Publisher: Cengage
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During the year, the senbet discount tire company had gross saels of 556900. the companys cost of goods sold and selling expenses were 189200 and 110200, respectively. The company aslo had debt of 496000 which carried and interest rate of 6 percent. depreciation was 65700, tax rate 21 percent.
a. what is the companys net income?
b. what was the companys operating cash flow?
USA Inc. had gross sales of $925,000. The cost of goods sold and selling expenses were $490,00 and $220, 000 respectively. International also had notes payable with an interest of 4%. Depreciation was $120,000. The tax rate at the time was 21%.
a. What is the company's net income? Show work and briefly discuss.
b.What is the company's operating cash flow? Show work and briefly discuss.
During the year, the Senbet Discount Tire Company had gross sales of $1.23 million. The company’s cost of goods sold and selling expenses were $592,000 and $245,000, respectively. The company also had notes payable of $840,000. These notes carried an interest rate of 4 percent. Depreciation was $122,000. The tax rate was 22 percent.
a.
What was the company’s net income? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, rounded to the nearest whole dollar amount, e.g., 1,234,567.)
b.
What was the company’s operating cash flow? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, rounded to the nearest whole dollar amount, e.g., 1,234,567.)
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