During 2014, Raines Umbrella Corp. had sales of $780,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $610,000, $85,000, and $115,000, respectively. In addition, the company had an interest expense of $54,000 and a tax rate of 35 percent. (Ignore any tax loss carryback or carryforward provisions.)
a. What is Raines's net income for 2014?
b. What is the company's operating cash flow?