Net Income and OCF During the year, Belyk Paving Co. had sales of $1,745,000. Cost of goods sold, administrative and selling expenses, and depreciation expense were $880,000, $470,000, and $385,000, respectively. In addition, the company had an interest expense of $195,000 and a tax rate of 21 percent. (Ignore any tax loss carryforward provision and assume interest expense is fully deductible.) a. What is the company's net income? b. What is its operating cash flow? e. Explain your results in parts (a) and (b).

Net Income and OCF During the year, Belyk Paving Co. had sales of $1,745,000. Cost of goods sold, administrative and selling expenses, and depreciation expense were $880,000, $470,000, and $385,000, respectively. In addition, the company had an interest expense of $195,000 and a tax rate of 21 percent. (Ignore any tax loss carryforward provision and assume interest expense is fully deductible.) a. What is the company's net income? b. What is its operating cash flow? e. Explain your results in parts (a) and (b).

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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