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Last year M&M Corporation reported its net income as $920,000. A review of its income statement shows that M&M's operating expenses (fixed and variable), excluding depreciation and amortization, were $1,660,000; its depreciation and amortization expense was $240,000; and tis company's tax rate was 30 percent. M&M has no debt (the firm is financed with equity only). Round to the nearest dollar.
Please show your work.
Question a. What were M&M's sales revenues last year?
Question b. What was M&M's net cash flow last year?
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