Chevelle, Inc. has sales of $53299, costs of $13567, depreciation expense of $9184, and interest expense...
Chevelle, Inc. has sales of $53299, costs of $13567, depreciation expense of $9184, and interest expense of $2029. If the tax rate is 33 percent, what is the operating cash flow, or OCF? (round 2 decimal places)
Homework Answers
To calculate OCF, we first need the income statement:
Income Statement
| Sales | $53,299 |
| Costs | $13,567 |
| Depreciation | $9,184 |
| EBIT | $30,548 |
| Interest | $2,029 |
| Taxable income | $28,519 |
| Taxes (33%) | $9,411.27 |
| Net income | $19,107.73 |
OCF = EBIT + Depreciation – Taxes = $30,548 + $9,184 - $9,411.27 = $30,320.73
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