During 2017, Raines Umbrella Corp. had sales of $910,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $648,000, $125,000, and $170,000, respectively. In addition, the company had an interest expense of $59,000 and a tax rate of 35 percent. (Ignore any tax loss carryback or carryforward provisions.)
a. What was the company’s net income or net loss for 2017? (Do not round intermediate calculations. Input your answer as a positive value.) $
b. What was its operating cash flow? (Do not round intermediate calculations.) Operating cash flow $