General accounting Titan Football Manufacturing had the following operating results for 2014:Sales$19,800Cost of goods sold $13,960Depreciation expense $2,350Interest expenseDividends paid$335$570.At the beginning of the year, net fixed assets were $14,800, current assets were$2,960, and current liabilities were $2,050. At the end of the year, net fixed assetswere $17,540, current assets were $3,320, and current liabilities were $2,140.The tax rate for 2014 was 30%.A. What is the net income for 2014.B. What is the operating cash flow during 2014.

Step 1: Define Net IncomeThe net income of the company is calculated by deducting all the expenses…

Answered: Titan Football Manufacturing had the…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter12: Balanced Scorecard And Other Performance Measures

Section: Chapter Questions

Problem 6EA: During the current year, Sokowski Manufacturing earned income of $350,000 from total sales of...

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