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is Raines's net income for 2010? at is its operating cash now? lain your results in (a) and (b)

is Raines's net income for 2010? at is its operating cash now? lain your results in (a) and (b)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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answer this please. iam in a bit of rush.

Q no 2: Net Income and OCF: During 2010. Raines Umbrella Corp. had sales of $740,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $610,000, $105,000 & $140,000 respectively. In addition, the company had an interest expense of $70,000 and tax rate of 35 percent. a. What is Raines's net income for 2010? b. What is its operating cash now? c. Explain your results in (a) and (b)
Transcribed Image Text:Q no 2: Net Income and OCF: During 2010. Raines Umbrella Corp. had sales of $740,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $610,000, $105,000 & $140,000 respectively. In addition, the company had an interest expense of $70,000 and tax rate of 35 percent. a. What is Raines's net income for 2010? b. What is its operating cash now? c. Explain your results in (a) and (b)
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