During the year, the Senbet Discount Tire Company had gross sales of $1.24 million. The company’s cost of goods sold and

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During the year, the Senbet Discount Tire Company had grosssales of $1.24 million. The company’s cost of goods sold andselling expenses were $593,000 and $246,000, respectively. Thecompany also had notes payable of $850,000. These notes carried aninterest rate of 5 percent. Depreciation was $123,000. The tax ratewas 23 percent.
What was the company’s net income? (Do not roundintermediate calculations and enter your answer in dollars, notmillions of dollars, rounded to the nearest whole number,e.g., 1,234,567.)
What was the company’s operating cash flow? (Do notround intermediate calculations and enter your answer in dollars,not millions of dollars, rounded to the nearest whole number,e.g., 1,234,567.)