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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 tax rate 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 million given to a customer, what amount of cash was received from customers? Options: a. $129.78 million b. $152.45 million c. $108.12 million d. $142.67 million

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 tax rate 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 million given to a customer, what amount of cash was received from customers? Options: a. $129.78 million b. $152.45 million c. $108.12 million d. $142.67 million

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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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 tax rate 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 million given to a customer, what amount of cash was received from customers? Options: a. $129.78 million b. $152.45 million c. $108.12 million d. $142.67 million
Transcribed Image Text: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 tax rate 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 million given to a customer, what amount of cash was received from customers? Options: a. $129.78 million b. $152.45 million c. $108.12 million d. $142.67 million
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