During 2019, Rainbow Umbrella Corp. had sales of $890,000. Cost of goods sold, administrative and...
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Accounting
| During 2019, Rainbow Umbrella Corp. had sales of $890,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $575,000, $90,000, and $160,000, respectively. In addition, the company had an interest expense of $93,000 and a tax rate of 21 percent. (Assume that interest is fully deductible.) |
| a. | What is the company's net income for 2019? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations.) |
| b. | What is its operating cash flow? (Do not round intermediate calculations.) |
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