What is net income and what is operating cash flow

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During the year, the Senbet Discount Tire Company had gross sales of $1.07 million. The firm’s cost of goods sold and selling expenses were $526,000 and $216,000, respectively. The firm also had notes payable of $810,000. These notes carried an interest rate of 6 percent. Depreciation was $131,000. The firm’s tax rate was 30 percent. What is net income? What is operating cash flow?

Reference no: EM131194749

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