During 2010, Raines Umbrella Corp. had sales of 740,000. Cost of goods sold, admin and selling expenses, and depreciation expense were 610,000, 105,000 and 140,000, respectively. In addition, the company had an intrest expense of 70,000 and a tax rate of 35%.
a. What is Raines net income for 2010?
b. What is it's operating cash flow?
c. Explain your results in (a) and (b).
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