FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Accounting.....

Gerry Co. has a gross profit of $990,000 and $290,000
in depreciation expenses. Selling and administrative
expense is $129,000. Given that the tax rate is 37%,
compute the cash flow for Gerry Co.
a. $700,000
b. $128,963
c. $649,730
d. $652,230
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Transcribed Image Text:Gerry Co. has a gross profit of $990,000 and $290,000 in depreciation expenses. Selling and administrative expense is $129,000. Given that the tax rate is 37%, compute the cash flow for Gerry Co. a. $700,000 b. $128,963 c. $649,730 d. $652,230
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