Building an income statement fyre inc has sales of 625000, Financial Management

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Building an income statement fyre inc has sales of 625000

1. Building an Income Statement. Fyre, Inc., has sales of $625,000, costs of $ 260,000, depreciation expense of $79,000, interest expense of $43,000, and a tax rate of 35 percent. What is the net income for this firm? Also, calculate operating cash flow (OCF).

2. Dividends and Retained Earnings. Suppose the firm in Problem 2 paid out $60,000 in cash dividends. What is the addition to retained earnings?

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Financial Management: Building an income statement fyre inc has sales of 625000

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