Business, 16.06.2021 17:30, Schoolworkspace453
American Inc. had gross sales of $925,000. Cost of goods sold and selling expenses were $490,00 and $220, 000 respectively American also had notes payable with an interest of 4%. Depreciation was $120,000. The tax rate at the time was 35%.
Required:
a. What is the company’s net income? Show work.
b. What is the companies operating cash flow? Show work
Answers: 1
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American Inc. had gross sales of $925,000. Cost of goods sold and selling expenses were $490,00 and...
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