South-Western Federal Taxation 2019: Comprehensive, Loose-leaf Version, 42nd + CengageNOWv2, 2 term Printed Access with Access
42nd Edition
ISBN: 9781337813525
Author: Jr William H. Hoffman
Publisher: Cengage Learning
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Mona Equipment Inc. had $22.50 million in sales last year. The cost of goods sold was $12.40 million, depreciation expense was $3.60 million, interest payment on outstanding debt was $2.10 million, and the firm's tax rate was 25%. A. What was the firm's net income? B. What was the firm's cash flow?
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