What was the firms operating cash flow and net income

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Reference no: EM131185190

During the year, the Senbet Discount Tire Company had gross sales of $1.2 million. The firm’s cost of goods sold and selling expenses were $539,000 and $229,000, respectively. The firm also had notes payable of $940,000. These notes carried an interest rate of 7 percent. Depreciation was $144,000. The firm’s tax rate was 40 percent. What was the firm’s net income? What was the firm’s operating cash flow?

Reference no: EM131185190

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