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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
19.       Net Income and OCF   During 2010, Raines Umbrella Corp. had sales of                      Â
$850,000. Cost of goods sold, administrative and selling expenses, and deprecia- tion expenses were $610,000, $110,000, and $140,000, respectively. In addition, the company had an interest expense of $85,000 and a tax rate of 35 percent. (Ignore any tax loss carryback or carryforward provisions.)
a.  What is Raines’s net income for 2010?
b.  What is its operating cash flow?
c.   Explain your results in (a) and (b).
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