Tullot Industries began operations on January 1,20X9.On that date,the owners invested $140,000 in the company,and acquired a $90,000 machine.The machine has a useful life of 5 years,and a residual value of $4,000.The company intends to depreciate the machine on a straight-line basis for financial reporting purposes.During 20X9,revenues,which were all in cash,totaled $630,000.All operating expenses,other than depreciation and all paid in cash,were $510,000.Tullot Industries has a 45% income tax rate.
Given the above information,determine the following (round all answers to the nearest dollar):
a.20X9 Net income using straight-line depreciation
b.20X9 Net cash provided by operations using straight-line depreciation

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The Answer of Tullot Industries began operations on January 1,20X9.On that date,the owners invested $140,000 in the company,and acquired a $90,000 machine.The machine has a useful life of 5 years,and a residual value of $4,000.The company intends to depreciate the machine on a straight-line basis for financial reporting purposes.During 20X9,revenues,which were all in cash,totaled $630,000.All operating expenses,other than depreciation and all paid in cash,were $510,000.Tullot Industries has a 45% income tax rate.
Given the above information,determine the following (round all answers to the nearest dollar):
a.20X9 Net income using straight-line depreciation
b.20X9 Net cash provided by operations using straight-line depreciation

Tullot Industries Began Operations on January 1,20X9