Solution-What is the company net income

What is the company net income

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Reference no: EM131066525

During 2015, Rainbow Umbrella Corp. had sales of $700,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $500,000, $110,000, and $75,000, respectively. In addition, the company had an interest expense of $86,000 and a tax rate of 35 percent. (Ignore any tax loss carryback or carryforward provisions.)

a. What is the company's net income for 2015? (Do not round intermediate calculations. A negative answer should be indicated by a minus sign.)

b. What is its operating cash flow? (Do not round intermediate calculations.)

Reference no: EM131066525

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What is the company net income

Reference no: EM131066525

Reference no: EM131066525

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