During the year, the Senbet Discount Tire Company had gross sales of $1.19 million. The company’s cost of goods sold and selling expenses were $588,000 and $241,000, respectively. The company also had notes payable of $800,000. These notes carried an interest rate of 4 percent. Depreciation was $118,000. The tax rate was 23 percent.

a.
What was the company’s net income? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, rounded to the nearest whole dollar amount, e. g., 1,234,567.)

b.
What was the company’s operating cash flow? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, rounded to the nearest whole dollar amount, e. g., 1,234,567.)

Elon musk is the ceo of tesla motors. musk also serves as chairman of tesla's board. according to corporate governance theory, which of the following is a logical reason why musk should serve on the board? 1. he serves on many other boards, including that of a major client of tesla.2. his is an independent director who is well positioned to monitor the company's management.3. he can easily fire board members that are shirking their duties.4. he can provide the board with valuable inside information about the firm and the industry.

Swathmore clothing corporation grants its customers 30 days' credit. the company uses the allowance method for its uncollectible accounts receivable. during the year, a monthly bad debt accrual is made by multiplying 3% times the amount of credit sales for the month. at the fiscal year-end of december 31, an aging of accounts receivable schedule is prepared and the allowance for uncollectible accounts is adjusted accordingly. at the end of 2012, accounts receivable were dollar 586.000 and the allowance account had a credit balance of dollar 50,000. accounts receivable activity for 2013 was as follows: the company's controller prepared the following aging summary of year-end accounts receivable: prepare a summary journal entry to record the monthly bad debt accrual and the write-offs during the year. (if no entry is required for a particular event, select "no journal entry required" in the first account field.) prepare the necessary year-end adjusting entry for bad debt expense. (if no entry is required for an event, select "no journal entry required" in the first account field.) what is total bad debt expense for 2013? calculate the amount of accounts receivable that would appear in the 2013 balance sheet?

Which of the following is a benefit of a hat? it has a sports team logo on it. it makes the wearer look cool. it is red. it costs $12.