Oceanic Shipping Co. had sales revenue of $180,000,000, cost of goods sold of $80,000,000,sales and administrative costs of $18,000,000, depreciation expense of $10,000,000, and a taxrate of 22%. What is the operating cash flow for the year? If sales revenue was $135.56 million,and accounts receivable increased by $22.34 million, along with a cash refund of $5.78 milliongiven to a customer, what amount of cash was received from customers?Options:a. $129.78 millionb. $152.45 millionc. $108.12 milliond. $142.67 million

Approach to solving the question:The correct answer is none of the choices which is 107.44 million,…

Answered: Oceanic Shipping Co. had sales revenue…

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter21: Supply Chains And Working Capital Management

Section: Chapter Questions

Problem 3MC

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