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During the year, the Senbet Discount Tire Company had gross sales of $1.22 million. The company's...

During the year, the Senbet Discount Tire Company had gross sales of $1.22 million. The company's cost of goods sold and selling expenses were $541,000 and $231,000, respectively. The company also had debt of $960,000, which carried an interest rate of 6 percent. Depreciation was $146,000. The tax rate was 40 percent.

The Net Income Is $146,640.00

What was the company’s operating cash flow? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Round your answer to the nearest whole number, e.g., 32.)

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Answer #1
Sales $1,220,000
Cost of goods sold $541,000
Selling costs $231,000
Depreciation $146,000
EBIT $302,000
Interest $57,600
Taxable income $244,400
Taxes (40%) $97,760
Net income $146,640

OCF = EBIT + Depreciation – Taxes

OCF = $302,000 + $146,000 – $97,760

OCF = $350,240

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