I need help with this financial accounting question using the proper accounting approach. 1. Fill in the missing numbers in the following incomestatement:ParticularsAmount ($)$720,000SalesCosts$410,000Depreciation$85,000EBIT?Taxes (35%)?Net Income?2. What is the Operating Cash Flow (OCF)?3. What is the Depreciation Tax Shield?

Step 1: Define Operating Cash Flow (OCF)Operating Cash Flow (OCF) is the amount of cash a company…

Answered: 1. Fill in the missing numbers in the…

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter6: Accounting For Financial Management

Section: Chapter Questions

Problem 4MC

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1. Fill in the missing numbers in the following income statement: Particulars Amount ($) $720,000 Sales Costs $410,000 Depreciation $85,000 EBIT ? Taxes (35%) ? Net Income ? 2. What is the Operating Cash Flow (OCF)? 3. What is the Depreciation Tax Shield?