23 Jul WHAT WAS RAINESS NET INCOME OR NET LOSS FOR 2014?
During 2014 Raines Umbrella Corp. had sales of $910000. Cost of goods sold administrative and Show more During 2014 Raines Umbrella Corp. had sales of $910000. Cost of goods sold administrative and selling expenses and depreciation expenses were $648000 $125000 and $170000 respectively. In addition the company had an interest expense of $59000 and a tax rate of 35 percent. (Ignore any tax loss carryback or carryforward provisions.) a. What was Rainess net income or net loss for 2014? (Do not round intermediate calculations. Input the amount as a positive value.) b. What was its operating cash flow? (Do not round intermediate calculations.) Show less
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