### What is raines net income for 2010

Assignment Help Taxation
##### Reference no: EM13508301

During 2010, Raines Umbrella Corp. had sales of \$850,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were \$610,000, \$110,000 and \$140,000, respectively. In addition, the company has an interest expense of \$85,000 and a tax rate of 35 percent. (Ignore any tax loss carry-back or carry-forward provisions.)

a. What is Raines' net income for 2010?
b. What is its operating cash flow?
c. Explain your results in (a) and (b)?

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