Butterfly Tractors had $17.50 million in sales last year. Cost of goods sold was $8.70 million, depreciation expense was

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Butterfly Tractors Had 17 50 Million In Sales Last Year Cost Of Goods Sold Was 8 70 Million Depreciation Expense Was 1 (29.76 KiB) Viewed 12 times

Butterfly Tractors had $17.50 million in sales last year. Cost of goods sold was $8.70 million, depreciation expense was $2.70 million, interest payment on outstanding debt was $1.70 million, and the firm's tax rate was 21%. a. What was the firm's net income? (Enter your answers in millions rounded to 2 decimal places.) b. What was the firm's cash flow? (Enter your answers in millions rounded to 2 decimal places.) c. What would happen to net income and cash flow if depreciation were increased by $1.70 million? (Enter your numeric answers in millions rounded to 2 decimal places. Select "unaffected" if the results do not affect the balance.) f. What would be the impact on cash flow if depreciation was $1.70 million and interest expense was $2.70 million? (Enter your numeric answer in millions rounded to 2 decimal places. Select "unaffected" if the results do not affect the balance.) a. Net income million million b. Net cash flow c. Net income would be by million Cash flow would be by million f. Cash flow would be by million