What was the firm net income and cash flow

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Reference no: EM131864965

Butterfly Tractors had $14 million in sales last year. Cost of goods sold was $8.00 million, depreciation expense was $2 million, interest payment on outstanding debt was $1 million, and the firm’s tax rate was 35%.

a. What was the firm’s net income? (Enter your answers in millions rounded to 2 decimal places.)

b. What was the firm’s cash flow? (Enter your answers in millions rounded to 2 decimal places.)

Reference no: EM131864965

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