During 2018, Raines Umbrella Corp. had sales of $718,000. Cost
of goods sold, administrative and selling...
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During 2018, Raines Umbrella Corp. had sales of $718,000. Costof goods sold, administrative and selling expenses, anddepreciation expenses were $447,000, $95,500, and $141,000,respectively. In addition, the company had an interest expense of$70,800 and a tax rate of 22 percent. (Ignore any tax losscarryforward provisions and assume interest expense is fully taxdeductible.)
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a.
What is the company’s net income/loss for 2018? (Do notround intermediate calculations. Enter your answer as a positivevalue.)
b.
What is the company's operating cash flow? (Do notround intermediate calculations.)
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Solution Calculation of Net ProfitLoss for 2018 Sales A 718000 LessExpenses Cost of Goods sold 447000 Administrative and selling expenses 95500 Depreciation expense 141000 Total
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