During the year, the Senbet Discount Tire Company had gross sales of $1.22 million. The company’s...

During the year, the Senbet Discount Tire Company had gross sales of $1.22 million. The company’s cost of goods sold and selling expenses were $591,000 and $244,000, respectively. The company also had notes payable of $830,000. These notes carried an interest rate of 7 percent. Depreciation was $121,000. The tax rate was 21 percent. What was the company’s net income? What was the company’s operating cash flow?

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